Browsing: Forbearance

Mortgage CFPB report analyzes servicer data on borrowers exiting COVID forbearance

Just 0.2% of mortgage loans exited COVID-19 forbearance programs with a status of foreclosure, short sale or deed in lieu, according to new metrics published by the CFPB today based on information reported by 16 mortgage servicers that together represent approximately one-third of the residential mortgage market.


As more borrowers exit COVID-19 forbearance programs, the Biden administration today announced several new relief measures designed to help mortgage borrowers with loans through the Department of Housing and Urban Development, Department of Veterans Affairs and the Department of Agriculture avoid foreclosure.

Commercial Lending

As expected, the Consumer Financial Protection Bureau today finalized a rule to facilitate streamlined loan modification efforts and establish a temporary COVID-19 emergency pre-foreclosure period under Regulation X that would prohibit servicers from making the first notice or filing required to initiate foreclosure until Dec. 31.

Mortgage The Long Shadow

COVID-19 continues to pose significant compliance challenges for mortgage servicers.

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