The Consumer Financial Protection Bureau (CFPB) has detailed practices to provide mortgage servicers clarity, facilitate compliance and prevent harm to consumers during the transfer of residential mortgages.
The CFPB said it began developing the guidance well before the coronavirus pandemic after consulting with interagency and intergovernmental partners. However, the agency recognizes the pandemic may pose particular challenges.
Read on for more from the guidance and CFPB Director Kathy Kraninger.
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