The Washington State Department of Financial Institutions (DFI) has adopted its proposed Rule Amendments to the Consumer Loan Act (CLA) concerning mortgage servicing.
The amendments include: new rules on borrower requests for information, loss mitigation, foreclosure and escrow. Other new rules deal with limiting offshore collection, and defining investor and note holder so they can be specifically exempted from oversight.
Read on for details on the new rules, which took effect Sept. 1.
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