CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers

The Consumer Financial Protection Bureau (Bureau) released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined …

The Consumer Financial Protection Bureau (Bureau) released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined by the number of loans serviced.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-new-report-exploring-differences-between-large-and-small-mortgage-servicers/

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators

The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November…

The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-interpretitive-rule-screening-and-training-requirements-mortgage-loan-originators/

Consumer Financial Protection Bureau Settles with BSI Financial Services

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with BSI Financial Services (BSI), a mortgage servicer headquartered in Irving, Texas. BSI Financial Services is the operating name for Servis One, Inc. 

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with BSI Financial Services (BSI), a mortgage servicer headquartered in Irving, Texas. BSI Financial Services is the operating name for Servis One, Inc. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-settles-bsi-financial-services/