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Tuesday, April 10, 2012

CFPB Considers New Mortgage Servicing Rules

The CFPB has outlined new mortgage servicing rules it is considering to bring full transparency and end runaround service from mortgage services. The CFPB plans to formally propose the rules this summer and finalize them in January 2013. The rules under consideration would require more information be shared with consumers regarding how payments are applied and when interest rates will change.

Read the CFPB’s outline of new rules.

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