The Consumer Financial Protection Bureau (CFPB) has published an interim final rule (IFR) to help mortgage servicers better assist consumers transition out of financial hardship caused by the COVID-19 pandemic.
The IFR makes it clear that servicers do not violate Regulation X by offering certain COVID-19-related loss-mitigation options based on an evaluation of limited application information collected from the borrower.
Read on for more details from the CFPB’s IFR.
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