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WBA Comments on CFPB’s COVID-19 Related Loss Mitigation Options

Today, WBA commented on CFPB's interim final rule to amend Regulation X to temporarily permit mortgage servicers to offer certain loss mitigation options based on the evaluation of an incomplete loss mitigation application. WBA's comments generally supported the rule for its temporary solutions offered to borrowers in forbearance as a result of COVID-19. WBA also recommended that the options be expanded, so that they might be utilized in the event of future emergencies. 

Read the full letter.

By, Ally Bates