CFPB: Servicers Must Double Their Efforts to Protect At-Risk Borrowers

DSNews, Aug. 31, 2021–Eric C. Peck
As forbearance plans begin to expire for millions of Americans, rules set forth by the Consumer Financial Protection Bureau, the 2021 Mortgage Servicing COVID-19 Proposed Rule, were aimed to prevent avoidable foreclosures as protections expire. The Rule was drafted to allow mortgage servicers to provide viable opportunities for consumers to avoid foreclosure and remain in their home, provide other mortgage relief options and protect mortgage borrowers from unwelcome surprises as they exit forbearance plans. (MBA mention)