At the first sign of trouble, when a homeowner has missed two consecutive mortgage payments, the servicer must let the homeowner know about alternatives to foreclosure. The rule also impacts the time to start the foreclosure process and allows for belated applications for loan modifications.
January 18, 2013 at 12:00 AM
1 minute read
In a rule made final Jan. 17, the Consumer Financial Protection Bureau established new protections for homeowners facing foreclosure, imposing sweeping new restrictions on the conduct of mortgage servicers.
Servicers, which collect mortgage payments on behalf of loan owners such as Fannie Mae and typically handle customer service, loan modifications and foreclosures, have been blamed for a range of abuses.
Presented by BigVoodoo
The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
