Consumer Financial Protection Bureau says it wants tougher mortgage servicing rules

The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments.

Bureau seeks

tighter rules

WASHINGTON — The government’s consumer lending watchdog proposed new rules Friday aimed at protecting homeowners from unexpected costs and shoddy service by companies that collect their monthly mortgage payments.

Mortgage servicing companies would be required to provide clear billing statements, warn borrowers before interest rate hikes and help them avoid foreclosure under the proposal by the Consumer...
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