CFPB Clarifies Conduct Rules For Mortgage Servicers

Law360, New York (October 15, 2013, 3:04 PM EDT) -- The Consumer Financial Protection Bureau on Tuesday outlined when mortgage servicers can communicate with borrowers without violating federal debt collection laws, among other clarifications of rules that will reshape the industry when they take effect in January.

In a bulletin, the CFPB said that mortgage servicers can provide information requested, including handling error reports and loss mitigation requests, by borrowers who have asked not to be contacted by debt collectors under the Fair Debt Collection Practices Act.

The bulletin also outlines how mortgage servicers should handle...
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