Consumer Financial Protection Bureau Update: The Proposed Mortgage Servicing Rules

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On August 10, 2012, the Consumer Financial Protection Bureau (“CFPB”) issued two notices containing rules intended to protect homeowners from errors and abuses by their mortgage servicers.

The proposed rules would amend Regulation Z of the Truth in Lending Act (“TILA”) and Regulation X of the Real Estate Settlement Procedures Act (“RESPA”)....

Please see full Alert below for further information.

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Topics:  CFPB, Dodd-Frank, Force-Placed Insurance, Loss Mitigation, Mortgages, RESPA, Servicing Policies, TILA

Published In: Administrative Agency Updates, Consumer Protection Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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