CFPB issues requirements for mortgage servicing

The Consumer Financial Protection Bureau has released mortgage-servicing rules that are set to go into effect early next year. Director Richard Cordray says the goal is to repair a "broken system." For example, the rules govern when a mortgage servicer can foreclose. They also require servicers to notify borrowers when interest rates change.

View Full Article in:

AmericanBanker.com (free registration) · Bloomberg Businessweek · MarketWatch

Published in Briefs: