Consumer Financial Protection Bureau issued a Final Rule on August 2 for Mortgage Servicers

Friday, August 12, 2016

On Tuesday, August 2, 2016, the Consumer Financial Protection Bureau issued a final rule for mortgage servicers that provides greater protections to struggling borrowers, surviving family members and borrowers in bankruptcy.The changes also add protections to consumers when their mortgage is transferred to another servicer, a major pain point for the industry.  See related article here.