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Last month the Consumer Financial Protection Bureau released a Request for Information on mortgage refinances, loss mitigation, and forbearance. The Bureau is specifically seeking comments from the public about ways to:

(1) facilitate mortgage refinances for consumers who would benefit from refinancing, especially consumers with smaller loan balances; and

(2) reduce risks for consumers who experience disruptions in their financial situation that could interfere with their ability to remain current on their mortgage.

Older adults account for an increasing share of people with mortgages, and more of them are carrying mortgages into retirement while relying on fixed incomes. They also hold a wide range of mortgage products including home equity loans and reverse mortgages. And they are among a large number of people who refinance their mortgages. Comments from older adults, advocates, and organizations and companies that provide mortgage products and services to the older population are important. We would welcome comments about mortgage refinance options and mortgage loss mitigation options that could provide benefits or pose risks to older borrowers, including comments relating to specific mortgage products that are designed for or held at higher rates by older adults such as reverse mortgages and home equity loans.

Comments are due no later than November 28, 2022. To submit comments please visit: