The CFPB recently issued guidance to mortgage servicers reminding them of their legal obligations to protect borrowers during the transfer of mortgage servicing between firms. “Consumers should not be collateral damage in the mortgage servicing transfer process,” said CFPB Director Richard Cordray. “This guidance directs all mortgage servicers, both banks and nonbanks, to follow the laws protecting borrowers from the risks of such transfers and makes clear that we will be monitoring them for compliance.” In CFPB...