The COVID Project
The record
- Jurisdiction
- United States; CFPB, Federal Reserve Board, FDIC, NCUA, OCC and State regulators (federal interagency)
- Level
- Federal
- Authority
- 12 U.S.C. § 5512; § 1818; § 1786
- Issued
- 2020-04-03 Apr. 3, 2020
- Effective
- 2020-04-03
- End
- Superseded by the CFPB's servicing rule effective Aug. 31, 2021 (FED-B) (read as 2021-08-31)
- In force
- Apr. 3, 2020 to Aug. 31, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- Functions reached
- SV servicing, forbearance and collections
- CC contact center (forbearance volume)
- ML
- CB borrowers
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
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
Notes
Recognizes that servicers' operations were reorganized around CARES Act § 4022 forbearance; FED-B holds the CARES Act text and the Aug. 31, 2021 rule
Retrieval noteBracketed summary from the statement's body.