In the News
HSH.com: CFPB reminds services of their legal obligations to borrowers
By Michele Lerner. Lenders frequently sell their loans to other servicers, but bank closures and the cancellation of mortgage business by many financial institutions has meant that more loans than usual have been transferred...
February 14, 2013
Raphael Bostic, director of the Bedrosian Center on Governance at the University of Southern California and former assistant secretary for policy development and research at HUD, says that while many financial institutions already have systems in place to handle paperwork efficiently for customers undergoing a loan modification, this bulletin should encourage all lenders to develop industry-wide best practices for mortgage servicing transfers...