Posted To: Pipeline Press

Whenever I ask my cat Myrtle about her opinion of the Consumer Finance Protection Bureau, she remains mum. But the CFPB has been in the press lately. Servicers are girding their loins and making sure their portfolio clients are being handled per rules and regulations. Yesterday “the Bureau” issued a Debt Collection Interim Final Rule (IFR) related to the COVID-19 emergency. The IFR requires debt collectors to provide written notice to certain consumers of their rights under the COVID-19 pandemic CDC temporary eviction moratorium and prohibits certain misrepresentations about consumers’ eligibility for protection under such moratorium. (While we’re on servicing, on Thursday at 2PM ET MIAC is hosting “ Understanding MSRs in Today’s Volatile Market .”…(read more)

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Source: Mortgage News Daily