The newest CFPB’s final signal amending Regulation X to greatly help mortgage consumers affected by this new COVID-19 emergency turned into effective for the August 30. The very last signal establishes temporary procedural coverage to help make sure that qualified individuals features a meaningful opportunity to become assessed getting losings mitigation till the servicer renders the original notice otherwise submitting required for property foreclosure toward particular mortgage loans.
In the August, the CFPB composed a study discussing 16 higher mortgage servicers’ COVID-19 pandemic reaction.
