Relevant:
- CFPB's Latest Proposal Draws Fire From Consumer Groups
- Mick Mulvaney Effectively Fires CFPB Advisory Council
- Consumer bureau lays out new mortgage-lending standards - The Hill's On The Money
- Risk retention crucial to housing reform: Treasury
- Survey Finds Banks Still Foreclose on Homeowners Seeking Loan Mods
2012-08-17 — credit.com
``The most upsetting practice for these groups, which is known in the industry as "dual tracking," allows lenders to continue evaluating a homeowner's options for obtaining a mortgage modification while still moving toward foreclosure, the report said. The CFPB's proposed rule allows this to continue, but the lender or servicer cannot foreclose on the home without having first officially considered the benefits of a modification. However, groups such as the Center for Responsible Lending and the National Consumer Law Center say that more can be done.''
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