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Home » Store » Originations » CFPB Requires Servicers to Consult with Investors

CFPB Requires Servicers to Consult with Investors

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New rules from the Consumer Financial Protection Bureau require servicers to consult with loan owners regarding the loss mitigation process and increase reporting of loss mitigation activity. Senior officials at the CFPB said they have received complaints that servicers are not offering loan modification options allowed by loan owners, including non-agency mortgage-backed security investors. A senior CFPB official said servicers do not always have strong incentives to offer ...
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