Feds Issue New Mortgage Servicing Rules

CFPB Director, Richard Cordray

On January 17th, The Consumer Financial Protection Bureau (CFPB) announced new mortgage servicing rules that take effect in January 2014. The rules “establish strong protections for struggling homeowners facing foreclosure [and] also protect all homeowners from being hit by costly surprises or getting the runaround from their servicers” according to the CFPB.

Read a summary of the rules

Read a factsheet about the rules

Read a CFPB Blog on the new rules