Protections for Borrowers Affected by the COVID-19 Emergency under the Real Estate Settlement Procedures Act, Regulation X

30 organizations filed 31 public comments on Protections for Borrowers Affected by the COVID-19 Emergency under the Real Estate Settlement Procedures Act, Regulation X, at the Consumer Financial Protection Bureau. The comment window closed 2005d ago.

Abstract

The Bureau of Consumer Financial Protection (Bureau) seeks comment on proposed amendments to Regulation X to assist borrowers affected by the COVID-19 emergency. The Bureau is taking this action to help ensure that borrowers affected by the COVID-19 pandemic have an opportunity to be evaluated for loss mitigation before the initiation of foreclosure. The proposed amendments would establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, 2021, for principal residences. In addition, the proposed amendments would temporarily permit mortgage servicers to offer certain loan modifications made available to borrowers experiencing a COVID-19-related hardship based on the evaluation of an incomplete application. The Bureau also proposes certain amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers.

Commenters (30)

• Mortgage Bankers Associationtrade assoc.

  2 filings · confidence 97%
• & Hope Policy Institutetrade assoc.

  1 filing · confidence 85%
• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• Bank Policy Institutetrade assoc.

  1 filing · confidence 97%
• Community Associations Institutetrade assoc.

  1 filing · confidence 85%
• Community Home Lenders Associationtrade assoc.

  1 filing · confidence 85%
• Credit Union National Associationtrade assoc.

  1 filing · confidence 97%
• Dakota Credit Union Associationtrade assoc.

  1 filing · confidence 85%
• First National Bank of Pennsylvania.unverified attribution

  1 filing · confidence 70%
• FIXZYN Incunverified attribution

  1 filing · confidence 70%
• Illinois Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Indiana Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• International Bancshares Corporationunverified attribution

  1 filing · confidence 70%
• Kentucky Bankers Associationtrade assoc.

  1 filing · confidence 85%
• League of Southeastern Credit Unionstrade assoc.

  1 filing · confidence 85%
• Legal League 100trade assoc.

  1 filing · confidence 85%
• Manufactured Housing Institutetrade assoc.

  1 filing · confidence 85%
• Michigan Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Minnesota Credit Union Networkunverified attribution

  1 filing · confidence 70%
• Mortgage Lender Services Incunverified attribution

  1 filing · confidence 70%
• National Association of Chapter 13 Trusteestrade assoc.

  1 filing · confidence 85%
• National Association of Federally-Insured Credit Unionstrade assoc.

  1 filing · confidence 85%
• National Association of REALTORStrade assoc.

  1 filing · confidence 85%
• Ohio Credit Union Leaguetrade assoc.

  1 filing · confidence 97%
• ProVest LLCunverified attribution

  1 filing · confidence 70%
• Structured Finance Associationtrade assoc.

  1 filing · confidence 85%
• The Urban Institutetrade assoc.

  1 filing · confidence 85%
• The Wisconsin Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Tropical Financial Credit Unionunverified attribution

  1 filing · confidence 70%
• U.S. Chamber of Commerce

  1 filing · confidence 97%