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Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot | Burr & Forman – JDSupra

The Consumer Financial Protection Bureau (CFPB) released a special edition of its supervision report, honing in on mortgage servicers on June 22nd[1]. It blamed outdated technology and process breakdown for trends it has seen with violations of the CFPB’s 2014 servicing rules. The primary areas of concern are communications and data related to loan modifications
IMPORTANT: The text in this website and product(s) sold on this website do not substitute for legal advice. Nor does the text substitute for real estate, financial, tax, bankruptcy or other professional advice. Loan Modification Key® and its owner(s) cannot and do not guarantee results from any lender or servicer. Loan Modification Key® and its owner(s) do not represent any loan modification program or governmental program. Loan Modification Key® and its owner(s) do not represent any government agency. The text herein represents information, opinion and expertise gathered in the last several years' experience in the mortgage industry. Loan Modification Key® is a non-profit 501 (c)(3) tax-exempt organization.
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