The Coronavirus Aid, Relief and Economic Security Act allows certain borrowers with federally backed mortgage loans and certain multifamily borrowers with federally backed mortgage loans that are experiencing a financial hardship due to the COVID-19 emergency to request and obtain forbearance on their loans. In addition, the expectation is that holders and servicers of non-federally backed mortgage loans will either voluntarily, or through state-mandated loan forbearance programs, provide forbearances for a period of three to six months to borrowers experiencing financial hardships due to the COVID-19 emergency. (For a summary of the CARES Act, see "Coronavirus Aid, Relief, and Economic Security (CARES) Act Signed into Law.")