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Category: Director's notebook | Category: Info for consumers |
Published

Mientras las protecciones expiran, la nueva normativa para la administración hipotecaria busca reducir las ejecuciones que sean evitables

En efecto desde el 31 de agosto del 2021, la nueva normativa les exige a los administradores hipotecarios ofrecerles a los propietarios, oportunidades reales para evitar el “foreclosure” y mantenerse en sus viviendas, mientras algunos programas federales de aplazamiento comienzan a expirar.

Category: At the CFPB |
Published

The Bureau continues to fight to help alleviate housing insecurity through its Tech Sprint Program

As part of CFPB’s continued effort to combat housing insecurity and promote racial equity, the Bureau is partnering with the Department of Housing and Urban Development to lead a tech sprint on post-pandemic housing challenges. We are asking participants to develop innovative digital tools to raise visibility of housing assistance resources focused on alleviating challenges faced by those with housing insecurity and aiding the connection of housing insecure households and the small landlords that serve them to those providing aid.

Category: Data, research, and reports |
Published

Trends in Reported Assistance on Consumers’ Credit Records

This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.

Category: Info for consumers |
Published

As foreclosure protections end, it’s time to work with your mortgage servicer

We have temporarily updated our rule for most mortgage servicers to require them ─ when they reach out to borrowers who are behind on their loans or in forbearance ─ to tell borrowers about their options to avoid foreclosure. Learn why you should contact your mortgage servicer if you’re struggling to make your payments.

Category: Data, research, and reports |
Published

Delinquencies on credit accounts continue to be low despite the pandemic

New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.

Category: At the CFPB |
Published

Mortgage Servicer Communication: Strategies during the COVID-19 pandemic

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.

Category: Info for consumers |
Published

How to help homeowners protect their homes

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.