{"id":"AGY-FED-FINANCIAL-014","kind":"order","level":"federal","jurisdiction":"United States; CFPB, Federal Reserve Board, FDIC, NCUA, OCC and State regulators (federal interagency)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"CFPB, Board of Governors, FDIC, NCUA, OCC and CSBS","authority":"12 U.S.C. § 5512; § 1818; § 1786","instrument":"Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act","title":"Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act","dateIssued":"2020-04-03","effective":"2020-04-03","end":"Superseded by the CFPB\u0027s servicing rule effective Aug. 31, 2021 (FED-B)","startDate":"2020-04-03","endDate":"2021-08-31","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["mortgage servicers"],"clause":"Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act [the agencies state they do not intend to take supervisory or enforcement action against servicers for delays in sending certain early-intervention and loss-mitigation notices while servicers process CARES Act forbearance requests]","enforcement":"Supervisory and enforcement forbearance under Regulation X","functions":["SV servicing, forbearance and collections","CC contact center (forbearance volume)","ML","CB borrowers"],"notes":"Recognizes that servicers\u0027 operations were reorganized around CARES Act § 4022 forbearance; FED-B holds the CARES Act text and the Aug. 31, 2021 rule","sourceUrl":"https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20200403a1.pdf","snapshot":"","fileExists":true,"fileBytes":232387,"grade":"primary","character":"","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-014","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-014","citation":"CFPB, Board of Governors, FDIC, NCUA, OCC and CSBS, Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act (Apr. 3, 2020) (Ex. AGY-FED-FINANCIAL-014)","stateName":"","related":[]}