CFPB Acting Director Dave Uejio said that as forbearance programs begin to wind down by the fall, “a flood of borrowers will need assistance from their servicers." The proposed rule would set up a “temporary COVID-19 emergency pre-foreclosure review period,” effectively preventing services from initiating foreclosures until 2022.
-
Navigating the Evolving Commercial Lending Landscape Explore the recent trends in the commercial lending landscape, focusing on interest rates, technology integration, and sustainability.
Estimated reading time: 0 minutes, 25 seconds
CFPB Moots Servicing Rule Change to Curb COVID-19 Foreclosures
The Consumer Financial Protection Bureau (CFPB) has proposed changing mortgage servicing rules to keep homeowners from being forced into foreclosure later this year due to the pandemic. So reports CNBC.
MOST READ STORIES
Fast,Easy & Free
