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In January 2013, the CFPB issued final mortgage servicing rules implementing numerous
provisions of the Real Estate Settlement Procedures Act and the Truth in Lending Act, as amended by
title XIV of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB has since made
various corrections, clarifications, and other amendments to those rules. During and after the COVID-19
pandemic, the CFPB observed that there were places where the rules could be revised to reduce
unnecessary complexity. In 2022, the Bureau asked the public for input on ways to reduce risks for
borrowers who experience disruptions in their ability to make mortgage payments, including input on the
mortgage forbearance options available to borrowers. In particular, the CFPB sought input on the features
of COVID-19 pandemic-related forbearance programs and whether there are ways to automate and
streamline long-term loss mitigation assistance. The CFPB is considering ways to simplify and streamline
the mortgage servicing rules.