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CFPB Assisting Loss-Mitigation Efforts

Mortgage servicers seeking to assist struggling borrowers to avoid foreclosure and engage in loss mitigation efforts would be able to apply for their own No-Action Letter. The post CFPB Assisting Loss-Mitigation Efforts appeared first on DSNews.

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More Evidence That Forbearance is Widely Being Taken as a Precaution; Signs of Improvement

The number of homeowners in mortgage forbearance plans continues to increase, reaching 4.75 million by May 19. This is 9.0 percent of all active borrowers nationwide and represents a little more than $1 trillion in unpaid principal. The number of plans grew by 93,000 borrowers between May 12 and May 19. Black Knight, in its weekly report on the forbearance …

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