The Consumer Financial Protection Bureau issued a proposal on Monday that would create a national moratorium on foreclosures until after December 31, 2021. In addition, the CFPB proposes certain amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers. This proposal comes on the heels of their April 1st memo that warned of “a tidal wave of distressed homeowners who will need help from their mortgage servicers in the coming months.”
CFPB Proposes Foreclosure Moratorium Until 2022
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