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CFPB Amends Regulation X to Allow Servicers to Evaluate Borrowers for Certain COVID-19 Related Loss Mitigation Options Based On Incomplete Application

The Consumer Financial Protection Bureau (“CFPB”) has amended Regulation X to temporarily allow mortgage servicers to offer borrowers who are experiencing financial hardship as a result of the COVID-19 pandemic certain loss mitigation options without obtaining a complete loss mitigation application.

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