CFPB Finalizes Amendments to Regulation X Mortgage Servicing Rules to Assist Borrowers Affected by COVID-19 | Practical Law
The Consumer Financial Protection Bureau (CFPB) issued a final rule that amends its mortgage servicing rules in Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA). The CFPB issued the final rule to assist mortgage borrowers affected by COVID-19, help ensure a smooth and orderly transition as federal and state COVID-19 foreclosure protections expire, and help promote housing security by preventing avoidable foreclosures.