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ABA: The American Bankers Association
Compliance News

New CFPB Webpage Offers Consumer Guide to Coronavirus Mortgage Relief

The Consumer Financial Protection Bureau has launched a new consumer webpage outlining relief options for mortgage borrowers who may be facing financial hardship as a result of the coronavirus pandemic. The page emphasizes that borrowers who are able to make their mortgage payments should continue to do so, and instructs those who cannot to contact their servicer directly to discuss their options, as certain mortgage loans may not be federally backed.

The page outlines the various protections available to borrowers under the CARES Act and other recent regulatory actions, and provides resources to help borrowers determine which type of relief they may qualify for. View the page. For more information, contact ABA's Rod Alba or Sharon Whitaker.