Joint Agency Guidance Encouraging Mortgage Services to Work With Consumers

On 4/3/2020, the regulators jointly issued a policy statement providing needed regulatory flexibility to enable mortgage servicers to work with struggling consumers affected by the Coronavirus Disease (referred to as COVID-19) emergency. The guidance informs servicers of the regulators’ flexible supervisory and enforcement approach during the COVID-19 emergency regarding certain communications to consumers required by the mortgage servicing rules. The policy statement and guidance will facilitate mortgage servicers’ ability to place consumers in short-term payment forbearance programs such as the one required by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

The CFPB joint statement can be found here.

Department of Labor Rule for Emergency Paid Sick Leave

FDIC Extends Comment Period for Brokered Deposit Restrictions