2013-08-22 — huffingtonpost.com
``The problems described in Wednesday's CFPB report are less severe than those enumerated above, but highlight failures in fundamental activities, such as sloppy account transfers between banks and shortcomings in handling loans on which borrowers had trouble making payments. One company failed to give homeowners proper notification when it changed the address to which mortgage payments needed to be sent. Some companies charged borrowers default fees that were supposed to be paid by investors who had purchased the loans. Mortgage firms even had problems making their own payments from escrow accounts, with one company botching property tax payments it was supposed to deposit on behalf of borrowers.''
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