CFPB Mortgage Servicing Rules Could Shrink Sector

Law360, New York (August 10, 2012, 7:16 PM EDT) -- The Consumer Financial Protection Bureau's proposed rules for mortgage servicers will bring huge changes to the way customers are treated, and could result in further consolidation of the industry because of increased compliance costs, experts say.

The more than 400 pages of new rules the CFPB unveiled Thursday are thought likely to revolutionize the mortgage servicing industry, requiring huge changes in everything from the relationships between mortgage servicers and owners to the way mortgage holders' complaints are handled and, potentially, the types of computer systems servicers...
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