CFPB and FHFA Announce Borrower Protection Program
Provided by Structured Finance Association
Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced the Borrower Protection Program – a new joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency.
Under the program, the CFPB will make complaint information and analytical tools available to FHFA via a secure electronic interface; and FHFA will make available to the Bureau information about forbearances, modifications and other loss mitigation initiatives undertaken by Fannie Mae and Freddie Mac (the Enterprises).
Read more via CFPB’s website here.