CFPB to announce mortgage-servicing rules to aid homeowners

01/17/2013 | Washington Post, The · Hill, The

The Consumer Financial Protection Bureau is expected to announce today new guidelines for mortgage servicers. The guidelines will limit dual tracking, in which foreclosure and loan modification are occurring concurrently, and will make foreclosure procedures generally more standardized. The rules will require servicers to provide detailed billing statements and to send borrowers two notices before adding charges for homeowners' insurance.

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