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Volume 25 - Number 5

March 3, 2014

CFPB Plans Enforcement Action Against Green Tree Servicing

In another sign of how serious the CFPB intends to be in pursuing alleged mortgage servicing abuses, the bureau is planning to take an enforcement action against Green Tree Servicing LLC, a wholly owned subsidiary of Walter Investment Management Corp., for alleged violations of federal consumer financial laws."On Feb. 20, 2014, the Federal Trade Commission and CFPB staff advised Green Tree that it has sought authority to bring an enforcement action and negotiate a resolution related to alleged violations of various federal consumer financial laws," the parent company said last week in earnings-related disclosures with the Securities and Exchange Commission.

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