Review and Analysis of CFPB’s COVID-19 Final Mortgage Servicing Rules

On June 28, 2021, the CFPB issued a long-awaited set of final rules outlining a number of new COVID-19 mortgage servicing requirements and protections. As expected, the CFPB’s recent release includes, among other things, a COVID-19 foreclosure moratorium, additional COVID-19-related early intervention live contact and reasonable diligence requirements, and relief from the CFPB’s anti-evasion requirements for certain COVID-19 loan modifications. These new CFPB rules are effective August 31, 2021, and, therefore, it is imperative that servicers very quickly understand and implement the rules.

Join us to learn more about these important COVID-19 mortgage servicing rules, including tips on implementing the new requirements/protections and handling compliance challenges related to the same.