Agency Guidance on Mortgage Servicing for Servicemembers

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On June 21, the Fed, CFPB, FDIC, NCUA, and OCC issued guidance to mortgage servicers to address risks related to military homeowners who have informed the servicer that they have received military Permanent Change of Station orders. If the agencies determine that a servicer has engaged in unfair, deceptive, or abusive practices, or practices that otherwise violate Federal consumer financial laws and regulations, the agencies will take supervisory and enforcement actions. Guidance. Fed Release.