Jan 14

CFPB gives mortgage borrowers new tools

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The new Consumer Finance Protection Bureau has begun to move to implement programs to make mortgage borrowers more aware of their rights and the obligations of mortgage lenders and servicers. In a press release issued on January 7, 2014, which is linked below, it took the first step in an education campaign to let consumers know of rule changes that take effect on January 14th. See, http://www.consumerfinance.gov/newsroom/cfpb-releases-new-mortgage-rule-resources-for-consumers/

For an in depth analysis of the rule changes, see a “Fact versus Fiction” memo issued by the CFPB about those rules: http://files.consumerfinance.gov/f/201312_cfpb_mortgage-rules_fact-vs-fiction.pdf