Report Provides Annual Summary of Actions Under the Fair Debt Collection Practices Act
CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure
Bureau Also Seeks Comment on Separate Proposed Rule Modifying Timing Requirements for Bankruptcy Periodic Statements
Servicemembers consistently report their issues with debt collection to us. These are some of their experiences.
Receiving a call from a debt collector can be stressful. Your first instinct may be to hide or ignore the situation and hope it goes away. But that can make things worse. We have resources to help you respond to debt collectors.
The Consumer Financial Protection Bureau (CFPB) today finalized new measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The updated rule requires servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, clarifies borrower protections when the servicing of a loan is transferred, and provides important loan information to borrowers in bankruptcy.
We’ve updated our mortgage servicing rules to provide greater protections for mortgage borrowers and other homeowners
Today we finalized new changes to our mortgage servicing rules. These updates ensure that mortgage servicers treat homeowners and struggling borrowers fairly. They also provide servicers with greater clarity about how to comply with the rules.