http://money.cnn.com/2013/01/17/real_estate/mortgage-rules/index.html?hpt=hp_t3
Federal officials issued new rules for mortgage servicers Thursday. These new rules are aimed at protecting homeowners facing foreclosure. In the midst of this housing crisis, many mortgage servicers have had trouble handling the flood of delinquent loans, the Consumer Financial Protection Bureau said. "In too many cases, it has led to unnecessary foreclosures," said CFPB director Richard Cordray. "Our rules ensure fair treatment for all borrowers and establish strong protections for those struggling to save their homes." These new mortgage rules seek to easen burdens on people, with rules that prohibit servicers from foreclosing on borrowers seeking loan modifications, and rules that require servicers to explore all alternatives to foreclosure first.
Federal officials issued new rules for mortgage servicers Thursday. These new rules are aimed at protecting homeowners facing foreclosure. In the midst of this housing crisis, many mortgage servicers have had trouble handling the flood of delinquent loans, the Consumer Financial Protection Bureau said. "In too many cases, it has led to unnecessary foreclosures," said CFPB director Richard Cordray. "Our rules ensure fair treatment for all borrowers and establish strong protections for those struggling to save their homes." These new mortgage rules seek to easen burdens on people, with rules that prohibit servicers from foreclosing on borrowers seeking loan modifications, and rules that require servicers to explore all alternatives to foreclosure first.
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