CFPB Director Applauds HUD and FHFA COVID-19 Response

On March 18, 2020, HUD and FHFA announced a 60-day moratorium on all foreclosures and evictions for FHA-insured mortgages and single-family mortgages backed by Fannie Mae and Freddie Mac, respectively, in response to the spread of COVID-19 and the financial hardship that entails.  The same day, CFPB Director Kraninger released a statement applauding this step by the agencies, commending them for proactively “providing Americans with much needed peace of mind during this uncertain time.”  

The CFPB has continued to encourage financial institutions to work with their customers that are affected by COVID-19 and continues to release guidelines and resources to help consumers understand and address the financial issues that may arise as a result of the spread of the virus, including how to submit complaints related to their financial services providers.

WBK’s previous article about the HUD and FHFA moratorium can be found here.