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CSBS Applauds CARES Act Forbearance Clarification

Washington, D.C. – Statement from CSBS President and CEO John W. Ryan on the federal housing agencies’ affirmation of mortgage forbearance through Feb. 28, 2021:

“State regulators applaud the federal housing agencies for clarifying the deadline for consumers to request forbearance under the CARES Act. This action provides clarity on the appropriate covered period. Importantly, it also gives consumers a clear understanding of the relief available to them.”

Links: 
•    CSBS statement urging clarity on CARES Act mortgage forbearance (Dec. 18, 2020)  
•    Letter re: State regulator concerns for borrower protections under Sec. 4022 of the CARES Act (Dec. 9, 2020)
•    CSBS Consumer Relief Guide – Your Rights to Mortgage Payment Forbearance and Foreclosure Protection Under the Federal CARES Act (Updated Dec. 2020)

For more information on CSBS visit www.csbs.org

Media Contact:  Susanna Barnett, 202-680-3143, [email protected] 

Twitter: @CSBSNews

The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.
 

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