CFPB Seeks to Hold Mortgage Servicers Accountable, and Establish New Mechanisms for Protecting Borrowers, Against Forthcoming Increase In COVID-19 Foreclosures
By EsqSocial Corporation 28/04/21
This month the Consumer Financial Protection Bureau (CFPB) doubled-down on its earlier warning that the end of 2021 could see widespread foreclosures as COVID-19-related protections expire, by issuing guidance to mortgage servicers, and a notice of proposed rulemaking, regarding actions mortgage servicers can take to deal with the onslaught. On April 1, 2021, it issued a compliance bulletin and policy guidance (Bulletin 2021-02) which cautioned mortgage servicers that it expects to prioritize...
By: Goodwin