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CFPBRulemakingCFPB-2021-0006

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

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Last modified
Dec 21, 2022
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closed 1905d ago
U.S. Chamber of Commerce filings
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Activity

U.S. Chamber of Commerce filed 1 comment on this docket between May 11, 2021 and May 11, 2021. 29 other organizations filed here. The comment window closed 1905d ago.

What U.S. Chamber of Commerce filed (1)

May 11, 2021· Comment from US Chamber of Commerce· CFPB-2021-0006-0187

Filed on regulations.gov — full text not in the inline record.

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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.

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Co-filers (29)

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