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The New Captain America - Consumer Protection

The New Captain America - Consumer Protection
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CFPB s Focus on Pandemic Mortgage Servicing Intensifies

Tuesday, April 6, 2021 Over the last week, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) has sharpened its focus on the mortgage servicing industry. Knowing that millions of mortgage borrowers will exit COVID-19 moratoriums and forbearance plans in the fall, the Bureau first issued a compliance bulletin putting servicers on notice that it will use all supervisory and enforcement tools against those not ready to process loss mitigation requests from these borrowers. The CFPB followed by issuing a proposed rule that would amend the Real Estate Settlement Procedures Act (RESPA) Regulation X so as to prevent “avoidable foreclosures” on this borrower cohort.

Andrew Wein Greenberg Traurig Law Firm West Palm Beach Washington DC Finance and Litigation Lawyer

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The New Captain America | FordHarrison

The New Captain America | FordHarrison
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