The RESPA Mortgage Servicing Rule changed the way mortgage servicers interact with borrowers who become delinquent.
Although foreclosures are down, costs are up. A new CFPB report found that the overall cost for servicers to comply with the rule, which became effective in January 2014, could be as high as more than $572 million annually.
Read on for more highlights from the second part of a five-part series of the rule’s impact.
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