Loss Mitigation Opinions under Regulation X Amended by CFPB Interim Final Rule Adding Certain COVID-19-related Loss Mitigation Options

In the June 30, 2020 issue of the Federal Register (85 FR 39055), the Bureau of Consumer Financial Protection (CFPB) issued an interim final rule (IFR) amending §1024.41 of Regulation X by revising paragraph (c)(2)(i) and adding paragraph (c)(2)(v) to temporarily permit mortgage servicers to offer certain loss mitigation options based on the evaluation of an incomplete loss mitigation application (IFR Loss Mitigation Option).

This IRA is effective as of July 1, 2020

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