United States:
Patchwork Of Coronavirus (COVID-19) Mortgage And Rent Forbearance Efforts Creates Challenges For Mortgage Lenders And Servicers
22 April 2020
Morrison & Foerster LLP
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As consumers and business face ever-worsening financial
conditions in the wake of the COVID-19 pandemic, federal agencies
and some states and localities have stepped in to provide
foreclosure and eviction relief. Not surprisingly, the approaches
to providing this relief vary greatly, creating significant
operational challenges for servicers operating in multiple
jurisdictions. We discuss below these varying approaches and
provide a chart of federal and state actions with links to the
relevant orders and guidance.
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
© Morrison & Foerster LLP. All rights reserved
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