Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Financial Institution Letter
Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the Continuing COVID-19 Pandemic and CARES Act


The Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators (collectively, the agencies) are issuing a joint statement to alert industry that the supervisory flexibilities outlined in the April 2020 Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act (April 2020 Joint Statement) no longer apply.


  • The agencies are issuing this joint statement to communicate their supervisory and enforcement approach to mortgage servicers.
  • On April 3, 2020, the agencies issued the April 2020 Joint Statement to clarify the application of the Regulation X mortgage servicing rules and explain that, until further notice, the agencies would not take supervisory or enforcement action against mortgage servicers for failing to meet certain timing requirements under the mortgage servicing rules, provided the servicers made good faith efforts to meet those requirements.
  • More than 18 months have passed since issuance of the April 2020 Joint Statement and servicers have had sufficient time to adjust their operations.  Accordingly, the temporary supervisory and enforcement flexibility announced in the April 2020 Joint Statement no longer applies.
  • The agencies will continue to consider, when appropriate, the specific impact of servicers’ challenges that arise due to the COVID-19 pandemic and take those issues in account when considering any supervisory and enforcement actions.  As part of their considerations, the agencies will factor in the time it takes to make operational adjustments in connection with this joint statement.


FDIC-Supervised Financial Institutions

Suggested Routing:

Chief Executive Officer
Chief Lending Officer

Last Updated: November 10, 2021