Protections for Borrowers Affected by the COVID-19 Emergency under the Real Estate Settlement Procedures Act, Regulation X; Rescission
Summary
This regulation removes pandemic-related protections that the federal government put in place to help homeowners struggling with mortgages during COVID-19. The rule ends special borrower protections that were previously offered under mortgage lending rules.
Key Points
- 1The CFPB is eliminating emergency protections for homeowners that were created during the COVID-19 pandemic
- 2These protections previously helped borrowers who fell behind on mortgage payments avoid foreclosure and get assistance
- 3The rule applies to mortgages regulated under the Real Estate Settlement Procedures Act (RESPA)
- 4Homeowners will no longer have these specific pandemic-related protections when dealing with their mortgage lenders
- 5The comment period ends June 17, 2025, allowing the public to submit feedback before the rule is finalized
Impact Assessment
If you are a homeowner, this means you will no longer have access to federal pandemic-related mortgage protections such as forbearance assistance and other borrower safeguards that were in place during COVID-19.
National
Minimal
Key Dates
May 16, 2025
Regulatory Connections
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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