June 28, 2021

Brown Applauds CFPB Action to Protect Homeowners From Foreclosure

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, applauded Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio for putting in place better protections for the more than two million homeowners who could unnecessarily lose their homes to foreclosure. Senator Brown and Senator Warren sent a letter to Acting Director Uejio last week urging the CFPB to put additional protections in place to help ensure that homeowners do not exit forbearance into foreclosure.

“As millions of homeowners who struggled to pay their mortgages during the pandemic exit forbearance, the CFPB’s final rule will help protect them from foreclosure. Now it’s critical that the CFPB keep a close watch on servicers as they implement this rule – and ensure homeowners know about other assistance available to help them stay in their homes,” said Brown.