Zombie Seconds Addressed in CFPB Proposed Rule

July 15, 2024

Home Equity Lending News, July 11, 2024
A new servicing rule proposed by the Consumer Financial Protection Bureau addresses dormant second mortgages in which the borrower stopped making the monthly payments long ago.

In a proposed rule, Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties; Regulation X, that was announced Wednesday, the bureau is addressing several topics.
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