July 30, 2021

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Mortgage News

Trades Oppose CFPB Plan to Delay Foreclosures to 2022

CFPB headquarters in Washington, DC CFPB headquarters in Washington, DC (Source: Shutterstock)

NAFCU and CUNA filed letters Monday against the CFPB’s proposed rule that would prevent most foreclosures from starting before the end of the year.

The CFPB announced the proposal on April 5th as part of a plan to ensure the millions of Americans who are behind on their mortgages due to the COVID-19 pandemic have enough time to make arrangements with their borrowers.