The Consumer Financial Protection Bureau issued an interim final rule ending protections for mortgagors experiencing hardships due to the COVID-19 pandemic.
Details: The CFPB said the interim final rule rescinds “Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act, Regulation X” of June 2021.
More: The CFPB added that the protections are no longer needed and “it is the policy of the Bureau to streamline regulatory requirements to reduce burdens on the American public.”