The Consumer Financial Protection Bureau (CFPB), in conjunction with the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA), today announced the launch of a new website to help homeowners and renters impacted by the COVID-19 crisis.
The site offers resources to help mortgage holders and renters find relief in cases where they require assistance under the CARES Act, as well as general resources such as information to help borrowers identify their mortgage servicers, how to determine if their mortgages are federally-backed and more.
The site also provides information about COVID-related scams and how consumers can identify and avoid them.
“During these uncertain times, consumers need reliable, fair, and accurate information on the protections and relief options available to them,” said CFPB Director Kathleen L. Kraninger in a press release. “This joint website achieves this important goal for homeowners and renters, outlining clearly the changes that policymakers are making to assist them. The Bureau will continue to do everything we can to protect the economic security of consumers.”
The agencies have announced various relief measures and collaborations in an effort to aid homeowners and renters during the national emergency. The measures apply both to forward and reverse mortgage borrowers as well as servicers.
“Our interagency team began working at the immediate onset of the emergency to address the nation’s housing challenges,” said FHA Commissioner Brian Montgomery, in the press release. “This new resource was part of that effort, and will provide immeasurable value to the nation’s homeowners and renters during this critical time. For those in FHA-insured homes or Multifamily rental properties, we are here to tell you that help is available for those that need it. We’re using every available method, like this new website, to get the message out.”