CFPB: Proposed Rule on Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties

The Consumer Financial Protection Bureau (Bureau or CFPB) released a Proposed Rule that would amend rules originally issued in 2013 regarding the responsibilities of mortgage servicers. The CFPB is seeking comment on several topics, including four key groups of changes related to assisting borrowers during loss mitigation and early intervention, as well as seeking comment on a fifth key issue related to credit reporting.

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