A Harbinger of Things to Come – CFPB Announces First Action for Violations of New Mortgage Servicing Rules

A Harbinger of Things to Come – CFPB Announces First Action for Violations of New Mortgage Servicing Rules

In what is certainly an indication of its enforcement priorities as well as a warning to mortgage servicers, the CFPB recently announced its first enforcement action for violations of its Mortgage Servicing Rules, which went into effect last January and impose a variety of requirements on mortgage servicers.