Posted To: MND NewsWire

The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have made arrangements to share information during the COVID-19 national emergency. CFPB is a big portal for and repository of consumer complaints about providers of financial services and has agreed to make that information as it relates to mortgage servicers along with appropriate analytical tools to FHFA available. In turn, the conservator and regulator of the GSEs Fannie Mae and Freddie Mac will provide information to the Bureau about forbearances, modifications and other loss mitigation initiatives undertaken by servicers of GSE loans. The GSEs have instructed servicers to enter into forbearance agreements with borrower encountering financial hardship due to the pandemic. These agreements allow…(read more)

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Source: Mortgage News Daily