Treatment of Certain COVID-19 Related Loss Mitigation Options Under the Real Estate Settlement Procedures Act (RESPA) (Regulation X) (interim final rule), 85 Fed. Reg. 39055 (June 30, 2020)

The record

Jurisdiction

United States (mortgage servicers)

Level

Federal

Authority

RESPA, 12 U.S.C. § 2605; Regulation X, 12 C.F.R. § 1024.41; 5 U.S.C. § 553(b)(B)

Issued

2020-06-30 June 30, 2020

Effective

2020-07-01

End

n/a (permanent amendment to § 1024.41(c)(2)(v)) (read as 2021-09-30)

In force

July 1, 2020 to Sept. 30, 2021

Quarters

2020 Q32020 Q42021 Q12021 Q22021 Q3

2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3

Limitation types

Other

Addressees

• mortgage servicers

Functions reached

• SV servicing of CARES Act forbearances

Collection

Federal commerce, travel, workplace and finance layer FED-B

Operative words

DATES: This interim final rule is effective on July 1, 2020. [The rule permits servicers to offer COVID-19 payment deferral and partial-claim options to borrowers exiting CARES Act forbearance without a complete loss-mitigation application, amending 12 C.F.R. § 1024.41.]

Enforcement