The bank experienced an uptick in mortgage-related complaints following the scandal, even though mortgage products weren’t part of the issue, according to a new research paper.
The rule would require mortgage servicers to only pursue foreclosure as a last resort and increase disclosure requirements. Loss-mitigation application requirements would also be streamlined.
The Supreme Court’s decision, overturning a deference that courts have provided to regulators for 40 years, should be a relief for the mortgage industry, according to an attorney.