CFPB keeps pressure on mortgage companies to help homeowners

 

Source: Michelle Singletary, Washington Post ( Paid Registration )

The Consumer Financial Protection Bureau has warned mortgage servicers to take proactive steps to assist borrowers, including dedicating resources and staffers to stay in contact with borrowers to ultimately reduce foreclosures and foreclosure-related costs.

Some homeowners will not be able to resume making payments on their mortgages, and that means some foreclosures are unavoidable. But the CFPB is holding mortgage servicers accountable if they don’t do enough to help people avoid losing their homes.

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