Mortgage Assistance Relief Services (MARS) Rule

The Federal Trade Commission (FTC) published the Mortgage Assistance Relief Services (MARS) final rule on Dec. 1, 2010 directed at companies that offer loan modification services to consumers for a fee; it requires certain disclosures and prohibits upfront fees. The FTC later announced that it would forbear from enforcing most provisions of the MARS Rule against real estate professionals who assist financially distressed consumers in obtaining short sales. The Consumer Financial Protection Bureau (CFPB) is now the enforcement agency and is pledged to honor the forbearance previously announced by the FTC.

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