Lawmakers Question Mortgage Servicers’ Compliance with CARES Act

National Mortgage News, July 16, 2020–Hannah Lang (subscription)
At a subcommittee hearing of the House Financial Services Committee, Democrats tried to get to the bottom of why some borrowers reported not being made aware of their options and having difficulty obtaining forbearance for the permissible period. Some servicers are said to be placing borrowers in shorter 90-day plans.