Mortgage Servicing in the Pandemic—What Servicers Need to Know

Federal regulators and Congress continue to release new guidance and requirements to assist residential mortgage loan borrowers facing economic hardships due to the pandemic. But in light of the anticipated volume of requests and associated burden on servicers, they also are offering some regulatory relief. This alert contains a summary of relevant mortgage servicing requirements, guidance, and relief published by federal regulators as of the open of business on April 7, 2020.

Continue reading in Mayer Brown’s Legal Update.