The COVID Project
The record
- Jurisdiction
- United States
- Level
- Federal
- Authority
- 12 U.S.C. 5511, 5512, 5531, 5536; Regulation X
- Issued
- 2021-04-01 Apr. 1, 2021
- Effective
- 2021-04-01
- End
- rescinded 2025 (post-period) (read as 2021-09-30)
- In force
- Apr. 1, 2021 to Sept. 30, 2021
- Quarters
- 2021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- Functions reached
- Collection
- Financial Services SEC-13
Operative words
Since the CARES Act was enacted, 6.9 [million borrowers have entered a] forbearance program.... The Bureau urges servicers to dedicate [sufficient resources and staff so that] they can communicate clearly with borrowers, effectively manage borrower requests for assistance... [and prevent] avoidable foreclosures and foreclosure-related... [the Bureau] intends to consider a servicer's overall effectiveness at achieving such goals
Enforcement
Announces supervisory and enforcement scrutiny of servicer staffing and handling of forbearance exits
Notes
The Bureau's own count of 6.9 million forbearances and of borrowers exiting forbearance in Sept.-Oct. 2021.
Retrieval notedate_issued 2021-04-01 is the bulletin's date; published 86 Fed. Reg. 17897 (Apr. 7, 2021); the file name carries the Federal Register date. Bracketed words bridge the Federal Register's column breaks.