Consumer Compliance Outlook: Second Issue 2021

Compliance Alert: Consumer Financial Protection Bureau Discusses Expectations for Servicers

On April 7, 2021, the Consumer Financial Protection Bureau (Bureau) published a bulletin to discuss its supervision and enforcement priorities for mortgage servicing. 86 Federal Register 17897 (April 7, 2021). Because many borrowers will be facing the end of forbearance periods in the coming months and foreclosure moratoriums are expected to end, the Bureau announced that, in supervising servicers, it will focus on the following concerns:

The bulletin became effective on April 7, 2021.