The Consumer Financial Protection Bureau’s consent order with BSI Financial Services provides the industry with key details on the agency’s first RESPA enforcement against a mortgage servicer in more than two years.
The CFPB announced a settlement last week with Texas-based BSI, charging the company with violations of RESPA, TILA and the Consumer Financial Protection Act.
Read on for details from the consent order on how the company mishandled BSI mortgage servicing transfers with loss mitigation and escrow information.
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