Posted To: MND NewsWire
The universe of mortgage regulators issued a joint statement on Wednesday, notifying servicers that they intend to again enforce “critical protections” for families and homeowners. The protections, first instituted during the Great Recession, are intended to prevent another foreclosure crisis as more than 1 million homeowners face the end of COVID-19 forbearance protection over the next two months. The statement was insured by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Agency, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators. The statement rescinds one the regulators issued on April 3, 2020 titled “Joint Statement on Supervisory and Enforcement…(read more)
Source: Mortgage News Daily
