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The COVID-19 pandemic is presenting one of the biggest challenges to the mortgage servicing industry since the Great Recession. There are an estimated 3 million delinquent loans, including more than 2 million loans in long-term forbearance. The Bureau is closely monitoring how servicers are handling the increased volume and emphasizes the importance of good communication especially at a time when so many homeowners are distressed. The Bureau also encourages servicers to use all available tools to reach struggling homeowners.

Homeowners facing hardship from the COVID-19 pandemic have expanded access to protections from the federal government. Learn how you can protect your home.

Algunos propietarios de vivienda que tengan problemas para pagar su hipoteca ahora tendrían un poco más de tiempo para buscar ayuda.

Financial relief and protections for many student loan borrowers, renters, and homeowners has been extended. Here’s what you need to know.

Some homeowners struggling to pay their mortgage now have a little extra time to seek help.

Homeowners who are struggling to make mortgage payments because of a COVID-19 related hardship, or who got a mortgage forbearance that is coming to an end, should talk to their mortgage servicer or a HUD-approved housing counselor about options and next steps.

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Today we finalized new changes to our mortgage servicing rules. These updates ensure that mortgage servicers treat homeowners and struggling borrowers fairly.  They also provide servicers with greater clarity about how to comply with the rules.

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

An important part of our mandate is to make rules more effective and create new rules when necessary. Today, we’re posting a semi-annual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Since the Mortgage Servicing Rules went into effect, we’ve spent a lot of time talking to consumer advocacy groups, housing counselors, mortgage servicers, and trade associations, to better understand how the rules are working and whether we should make any changes to them. As a result, we’re now proposing some changes to the Mortgage Servicing Rules. The changes are intended to smooth the path for companies to better protect consumers and comply with the CFPB’s rules.

Since last December, we’ve provided on-site and virtual trainings to more than 5,000 housing counselors in more than twenty cities.