COVID-19 financial management and disaster relief

  • CFPB Amends Mortgage Servicing Rule

     The Consumer Financial Protection Bureau (CFPB) has issued a final rule amending Regulation X to provide relief to borrowers facing financial hardship amid the COVID-19 emergency. The final rule was effective as of August 31, 2021.

    The final rule consists of five amendments to Regulation X intended to encourage borrowers and servicers to work collaboratively on foreclosure avoidance options.

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