RESPA enforcement officially is back, at least in mortgage servicing, as the Consumer Financial Protection Bureau announced a settlement Wednesday with BSI Financial Services, a mortgage servicer headquartered in Irving, Texas.
The bureau found that BSI handled mortgage servicing transfers with incomplete or inaccurate loss information, causing failures to recognize transferred mortgage loans with pending loss mitigation applications, in-process loan modifications and permanent loan modifications.
Read on for details of the violations of RESPA, TILA and Regulation X from the CFPB’s consent order.
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