Consumer Guide on Mortgage Relief Options

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To assist homeowners with federally-backed loans through the process of obtaining mortgage relief, the Conference of State Bank Supervisors (CSBS) and the Consumer Financial Protection Bureau (CFPB) today released a Consumer Relief Guide that discusses borrowers' rights to mortgage payment forbearance and foreclosure protection under the Federal CARES Act.  CFPB, CSBS, the Department of Financial Institutions, and all state regulators are committed to protecting Americans having financial hardship during the COVID-19 national health emergency. This consumer relief guide details what homeowners need to know to get the help they need, including a summary of borrowers' rights under the CARES Act, steps to access mortgage relief, and repayment options.  The website can be found here:  https://www.csbs.org/mortgage-relief-coronavirus; and a .pdf version can be found here:  https://www.csbs.org/system/files/2020-05/CSBS-CFPB_Consumers_Forbearance_Guide_May_2020_0.pdf

The Department maintains a list of regulatory and consumer links on our COVID-19 Resources page:  https://www.nd.gov/dfi/covid-19-resources

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