In a 12-page fact sheet on the announcement, the regulator notes the final rule is “similar in key respects to the proposed rule, with certain enhancements and other changes made in response to comments.”
“In many cases, Wells stopped accepting electronic mortgage payments after it placed homeowners into the unwanted forbearance, causing those who were current on their loans to become delinquent without their knowledge and through no fault of their own,” said Kellett & Bartholow.