The Consumer Financial Protection Bureau (CFPB) issued a new rule proposal on July 10 which would expand homeowner protections that were first implemented during the pandemic.
The agency said the rule is aimed at making it easier for homeowners struggling with mortgage payments to receive assistance, seeking to shift the focus of mortgage servicers from foreclosure to providing help, reducing paperwork, and improving communication with borrowers. The proposal is open for public comment through Sept. 9.
