CFPB v. Residential Credit Solutions, Inc.
The Consumer Financial Protection Bureau, or CFPB, filed a lawsuit against Residential Credit Solutions, Inc.
We alleged that the mortgage servicer failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they were due a refund, and forced consumers to waive their rights in order to get a repayment plan.
Victim compensation
The CFPB contracted with Rust Consulting, Inc. to administer victim payments and answer questions from consumers about these payments and this case. This matter is now closed.
For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, Residential Credit Solutions, 1700 G Street NW, Washington DC 20552.
Important dates
September 13, 2016 – March 21, 2018: Distribution