CFPB Announces Request for Comment regarding Potential Mortgage Servicing Rules

By Christopher Jackson, J.D., Communications Coordinator and Project Administrator Recently, the CFPB (Consumer Financial Protection Bureau) has proposed changes to its mortgage servicing rules that provide protections to struggling homeowners. The rules in their current form apply to a mortgage borrower, but do not apply to their successors in interests, when the mortgage borrower dies. A successor in interest is an individual who takes an … Continue reading CFPB Announces Request for Comment regarding Potential Mortgage Servicing Rules

The Consumer Financial Protection Bureau Issues Report on Older Consumers at Mortgage Debt

Mortgage debt has become an increasing trend for older adults, making retirement security a concern for many homeowners. The Consumer Financial Protection Bureau has been tracking this recent trend, and has recently released a report titled “A snapshot of older consumers and mortgage debt.” The snapshot is composed of data from the Census Bureau, the Federal Reserve, and the CFPB’s consumer complaints, among other sources, to … Continue reading The Consumer Financial Protection Bureau Issues Report on Older Consumers at Mortgage Debt