; Public Law 116–136 ; 134 Stat. 490). (2) COVID-19 emergency The term COVID–19 emergency has the meaning given such term in section 4022 of the CARES Act ( 15 U.S.C. 9056 ; Public Law 116–136 ; 134 Stat. 490). (3) Director The term Director means the Director of the Federal Housing Finance Agency. (4) Enterprise The term enterprise has the meaning given such term in section 1303 of the Housing and Community Development Act of 1992 ( 12 U.S.C. 4502 ). 205. Liquidity for mortgage servicers and residential rental property owners (a) In general Section 4003 of the CARES Act ( 15 U.S.C. 9042 ), is amended by adding at the end the following: (i) Liquidity for mortgage servicers (1) In general Subject to paragraph (2), the Secretary shall ensure that servicers of covered mortgage loans (as defined under section 4022) and multifamily mortgage loans (as defined under section 4023) are provided the opportunity to participate in the loans, loan guarantees, or other investments made by the Secretary under this section. The Secretary shall ensure that servicers are provided with access to such opportunities under equitable terms and conditions regardless of their size. (2) Mortgage servicer eligibility In order to receive assistance under subsection (b)(4), a mortgage servicer shall— (A) demonstrate that the mortgage servicer has established policies and procedures to use such funds only to replace funds used for borrower assistance, including to advance funds as a result of forbearance or other loss mitigation provided to borrowers; (B) demonstrate that the mortgage servicer has established policies and procedures to provide forbearance, post-forbearance loss mitigation, and other assistance to borrowers in compliance with the terms of section 4022 or 4023, as applicable