The Consumer Financial Protection Bureau’s (“CFPB”) new mortgage regulations are streamlining and refining a compliance system that aims to fix the many errors conducted by loan servicers during the loan modification process.
Through the Dodd-Frank Act, Congress gave the Consumer Finance Protection Bureau (CFPB or the Bureau) the responsibility to adopt specific mortgage rules, which were issued in January 2013 and took effect on January 10, 2014.
