cfpb issues final set of rules on assistance for borrowers impacted by COVID-19

The Bureau of Consumer Financial Protection (CFPB) today issued its final rule to amend Regulation X to assist mortgage borrowers affected by the COVID-19 emergency. Effective August 31, 2021, the final rule establishes temporarily procedural safeguards to help ensure that borrowers have a meaningful opportunity to be reviewed for loss mitigation before the servicer can… Read more »

CRFS 2nd quarter 2021 real world case study – acquired portfolio claim status project

CRFS REAL WORLD CASE STUDY 2021-02 ACQUIRED PORTFOLIO CLAIM STATUS PROJECT   Client:           Large non-bank mortgage servicer   Challenge:   In late 2019 our client acquired a third-party mortgage servicer and encountered sizable challenges identifying the status of the defaulted loans portion of the portfolio and whether they were eligible for claim filing. Our client was concerned… Read more »