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 Changing Landscape of Mortgage Interest Rates Explore how fluctuating mortgage interest rates are impacting home affordability, influencing lending practices, and shaping borrower strategies in today's dynamic market.
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
