Removing Barriers Blog

CFPB and FHFA Establish Information Sharing Initiative
Posted April 15, 2020 by CUNA Advocacy

The CFPB and FHFA announced a new “Borrower Protection Program,” a new joint initiative that enables the agencies to share servicing information to protect borrowers during the coronavirus national emergency.

Under the program, the CFPB will make complaint information and analytical tools available to FHFA via a secure electronic interface; and FHFA will make available to the Bureau information about forbearances, modifications and other loss mitigation initiatives undertaken by Fannie Mae and Freddie Mac (the Enterprises).

The CFPB has taken numerous steps to protect and assist consumers during the COVID-19 national emergency. For more information, the Bureau has developed a dedicated webpage with information on how consumers can protect their finances during the pandemic.