Wednesday, 14 April 2021 | The Latest Buzz for the Appraisal Industry

Does CFPB have authority to postpone foreclosures?

The Consumer Financial Protection Bureau released a proposed rule on Monday that would bar servicers from starting on foreclosures until 2022. The CFPB also proposed streamlined processes for moving homeowners out of forbearance and in to loss mitigation options. However, since the announcement, several industry leaders have expressed reservations about the blanket policy.

“My concern is that the bureau is overstepping its bounds and violating in essence agreements that have already been previously made,”

Original Post: https://www.housingwire.com/articles/does-cfpb-have-authority-to-postpone-foreclosures/

Author: Housing Wire

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