News & Updates


CFPB Proposed Expanded Foreclosure Protections

20 Nov 2014 4:41 PM | Edith Tella (Administrator)

Nov 20 2014

CFPB Proposes Expanded Foreclosure Protections

WASHINGTON, D.C. undefined Today, the Consumer Financial Protection Bureau (CFPB) proposed additional measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The proposal would require servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, to put in place additional servicing transfer protections, and to take steps to protect borrowers from a wrongful foreclosure sale. The proposal would also help ensure that surviving family members and others who inherit or receive property have the same protections under the CFPB’s mortgage servicing rules as the original borrower.

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