District Circular Letters
February 22, 2013
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CFPB Issues Guidance on Potential Risks Related to Mortgage Servicing Transfers
On February 11, 2013, the Consumer Financial Protection Bureau (CFPB) issued CFPB Bulletin 2013-01 to advise mortgage servicers of the potential risk to consumers that may arise in connection with the transfer of mortgage servicing. As noted in its press release, the CFPB’s concern in this area is heightened due to the number and size of recent servicing transfers.
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