Compliance News

08.08.2016

CFPB Finalizes Mortgage Servicing Rules

The CFPB has finalized mortgage servicing rules originally proposed in 2014.  The final rule provides certain foreclosure protections to struggling borrowers, such as clarifying protections when the servicing of the loan is transferred and ensuring that successors in interest who inherit or receive the property are afforded the same protections as the borrower, as well as providing loan information to borrowers in bankruptcy.  

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