Five years after the Consumer Financial Protection Bureau passed its first mortgage servicing rules, the agency looked back on the effect of its rules on the industry in a report mandated by the Dodd-Frank Act.
It found the rule prevented thousands of additional foreclosures annually and kept thousands more from falling into delinquency, but came at a cost to servicers large and small through the industry.
Read on for a first look at the CFPB’s findings from the impact of its mortgage servicing rules.
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