Relevant:
- New Mortgage Servicing Rules Issued by CFPB
- Lots of complaints are filed against mortgage servicers | Business & Technology | The Seattle Times
- U.S. consumer bureau issues rules to clean up mortgage servicing
- CFPB Opens Proposed Mortgage Rule Changes for Public Comment
- Think The Mortgage Industry Has Cleaned Up Its Act? Think Again. | ThinkProgress
2016-06-23 — reuters.com
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"Mortgage servicers can't hide behind their bad computer systems or outdated technology. There are no excuses for not following federal rules," said CFPB Director Richard Cordray in a statement.
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According to Wednesday's report, examiners for the CFPB, found misrepresentations of terms, fees and deadlines for loans and modifications in recent communications from servicers. The CFBP said loss mitigation and transfers were the primary problem areas, and that servicers "continue to use failed technology that has already harmed consumers."
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