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Tag Archives: non-compliance

CFPB Takes Legal Action Against Mortgage Servicer for Noncompliance

The Consumer Financial Protection Bureau announced Wednesday that they found a Chicago-based mortgage servicer in violation of federally mandated rules, and subsequently ordered restitution payments and system changes. The investigation found the mortgage servicer did not provide ample information about foreclosure relief options. Restitution requirements come in the form of a fine and procedural changes.

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