FEDERAL AGENCIES ENCOURAGE MORTGAGE SERVICERS TO WORK WITH STRUGGLING HOMEOWNERS AFFECTED BY COVID-19

摘要

An April 3 joint policy statement from the federal financial institution regulatory agencies and the state financial regulators provides regulatory flexibility to enable mortgage servicers to work with struggling consumers affected by the coronavirus (COVID-19) outbreak. The announcement informs servicers of the agencies' flexible supervisory and enforcement approach regarding certain communications to consumers required by the mortgage servicing rules. The policy statement and accompanying guidance will facilitate mortgage servicers' ability to place consumers in short-term payment forbearance programs.