CFPB to adopt mortgage moratorium rule with some exclusions

 

Source: Katanga Johnson, Reuters

The U.S. consumer watchdog weeks will adopt a rule requiring mortgage servicers to give struggling homeowners until next year to resume repayments, but is expected to carve out some groups of borrowers following industry pushback, four people told Reuters.

The borrowers expected to be carved-out, which has not previously been reported, include those in the process of negotiating an arrangement with their servicer to avoid foreclosure but who have not yet applied to be put into forbearance, three people said.

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