Record #:

43197

Author(s):

Rogers, Jeff; Enloe, Caren D.

Abstract:

"For over a year, banks and others in the mortgage industry have had their efforts to foreclose on distressed residential property placed on hold. As we slowly emerge from our pandemic concerns and get back to the business of foreclosure, banks and other lenders will need to consider the new landscape., navigate the Consumer Financial Protection Bureau's (CFPB's) Mortgage Servicing COVID-19 Rule (the COVID-19 Rule) and adapt." The rule takes effect on Aug. 31, 2021 and in a nutshell modifies and add temporary additional protections for all covered loans with several exceptions.

Source:

Carolina Banker (HG 2153 N8 C66), Vol. Issue , Fall 2021, p34-35

Subject(s):

Foreclosure--COVID; COVID-19--Banking--foreclosure