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.

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.