Monday, March 27, 2023 | The Latest Buzz for the Appraisal Industry

CFPB Trying to Get Ahead of Huge Numbers of Borrowers Exiting Forbearance

The Consumer Financial Protection Bureau (CFPB) has issued a notice of proposed rule-making that is intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.

The CFPB says nearly 3 million homeowners are behind on their mortgages due to the COVID-19 pandemic and ensuing economic crisis. The proposal seeks to ensure that both servicers and borrowers have the tools and time they need to work together to prevent avoidable foreclosures, recognizing

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