1. Short title This Act may be cited as the Helping Open Properties Endeavor Act of 2020 or the HOPE Act of 2020 . 2. HOPE Preferred Equity Facility (a) Establishment The Secretary of the Treasury shall establish a HOPE Preferred Equity Facility to provide financial assistance to borrowers of commercial mortgages in the form of a guarantee of a purchase by a financial institution of a preferred equity instrument issued by a borrower. The Secretary shall guarantee 100 percent of any such purchase made under this section. (b) Eligibility of borrowers A borrower is eligible to receive financial assistance under this section if, as determined by the financial institution— (1) the borrower’s revenue during any consecutive 3-month period between March 1, 2020, and February 28, 2021, from the property securing the commercial mortgage is at least 25 percent less than the revenue from such property during the same consecutive 3-month period in the previous year; (2) the borrower had not received written notice of monetary default on the commercial mortgage within the previous year and failed to cure such notice as of March 1, 2020; (3) either— (A) the debt service coverage ratio with respect to the commercial mortgage was at least 1.3 times on an annual basis during 2019; or (B) the debt service coverage ratio with respect to the commercial mortgage was at least 1.3 times on an annual basis during both 2017 and 2018; (4) the property securing the commercial mortgage is not owner-occupied, except to manage the property or de minimis occupancy as otherwise provided by the Secretary; (5) the borrower or a parent company of the borrower has not acquired the subject property after March 1, 2020, through a foreclosure process