RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

CFPB Releases Statement Regarding Veteran and Servicemember Housing Rights

Home Industry News
December 30, 2021
Reading Time: 3 mins read
CFPB Releases Statement Regarding Veteran and Servicemember Housing Rights

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently issued two joint letters regarding important legal housing protections for military families. One letter was sent to landlords and other housing providers regarding protections for military tenants. A second letter was sent to mortgage servicers regarding military borrowers who have already exited or will be exiting COVID-19 mortgage forbearance programs in the coming weeks and months.

The letter to landlords and other housing providers reminds property owners of the important housing protections for military tenants, some of whom may have had to relocate or make other changes to their housing arrangements in response to the crisis. While military families enjoy the same legal protections and privileges afforded to all other homeowners and tenants, they also have additional housing protections under the Servicemembers Civil Relief Act (SCRA), which is enforceable by the DOJ and servicemembers themselves.

The letter to mortgage servicers comes in response to complaints from military families and veterans on a range of potential mortgage servicing violations, including inaccurate credit reporting, misleading communications to borrowers and required lump sum payments for reinstating their mortgage loans. These complaints are being reviewed for compliance by the CFPB with the Coronavirus Aid, Relief, and Economic Security (CARES) Act and other applicable requirements.

“The illegal foreclosures of military families in the last crisis was one of the financial industry’s worst failures,” said CFPB Director Rohit Chopra in a statement. “The CFPB will be closely watching mortgage servicers and will hold them accountable for illegal tactics perpetrated against military families.”

“The Department of Justice takes seriously its responsibility to safeguard the rights of servicemembers and veterans,” said Assistant Attorney General Kristen Clarke in a statement. “While servicemembers carry the great burdens of this nation, they should not have to worry that their sacrifices will result in economic harm to their families. Mortgage servicers and landlords must ensure that they are in full compliance with federal laws intended to protect servicemembers and their families during military service.”

During the COVID-19 pandemic, roughly 7.6 million homeowners entered forbearance. While the majority have resumed their regular mortgage payments, approximately 1.25 million borrowers—many of whom are military borrowers—remain in forbearance programs that will expire at the end of the year. Ensuring that mortgage servicers comply with their legal obligations is crucial, especially since a decade ago some large financial institutions illegally seized the homes of military families, sending their lives into a tailspin. These violations were a result of breakdowns in the mortgage servicing industry that were severe and widespread. The result was numerous settlements with regulators, including a $186 million settlement between DOJ and some of the country’s largest mortgage servicers.

Servicemembers have several legal protections under the SCRA that are designed to enable them to devote their entire energy to the national defense. These include, for example, a prohibition on foreclosing on certain servicemembers’ mortgages without court orders, the ability for military families to terminate residential leases early, and without penalty, upon receipt of military orders, and a prohibition on evicting military families from their homes without court orders. In addition, under the CARES Act and Regulation X, servicemembers and veterans have the same protections available to all mortgage borrowers. These include, for example, streamlined COVID hardship forbearance options, requirements that mortgages receiving a COVID-19 hardship forbearance be reported as “current” to credit reporting agencies if the loan was current before entering forbearance under the CARES Act, and requirements in the bureau’s Regulations X and Z for treatment of delinquent borrowers and borrowers who have applied for loss mitigation.

The CFPB and DOJ are calling on mortgage servicers and landlords to ensure that military homeowners and tenants are safeguarded during the pandemic and benefit equally from the nation’s economic recovery.

View the joint letter to landlords and housing providers regarding military renter protections

Source: CFPB

Tags: CFPBConsumer Financial Protection BureauFair HousingHousingIndustry NewsMilitaryReal Estatereal estate newsRentingTenantsVeterans
ShareTweetShare

the Consumer Financial Protection Bureau

Related Posts

FHFA Director Compares Potential Cuts to GSEs to DOGE
Industry News

FHFA Director Compares Potential Cuts to GSEs to DOGE

May 19, 2025
ERA Key Realty’s Team Blue Is Breaking Records in Boston
Industry News

ERA Key Realty’s Team Blue Is Breaking Records in Boston

May 19, 2025
PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7
Industry News

PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7

May 19, 2025
Buffini & Company Launches AI Bootcamp Led by Industry Icon Michael Thorne
Agents

Buffini & Company Launches AI Bootcamp Led by Industry Icon Michael Thorne

May 19, 2025
Louisiana
Industry News

Louisiana Legislation Would Change Buyer Agreement Requirements

May 19, 2025
Williams
Economy

New York Fed President Says Housing Affordability ‘Number One Issue’ for Economy

May 19, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Don’t Get Greedy as a Team Leader

Too often, team leaders make the mistake of taking 50% of their agent's self-gen business. Here's what you should do instead. Watch now.

Business Tip of the Day provided by

Recent Posts

  • FHFA Director Compares Potential Cuts to GSEs to DOGE
  • ERA Key Realty’s Team Blue Is Breaking Records in Boston
  • PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X