"CFPB makes it clear: Fair servicing is back, for real this time" by Jonice Gray Tucker and H Joshua Kotin (HousingWire)
HousingWireJonice Gray Tucker, H Joshua Kotin
A new presidential administration and a clarion call from the Consumer Financial Protection Bureau has transformed fair servicing from a seemingly remote risk into a front and center mandate.
After the 2008 financial crisis, regulators enhanced long-standing fair lending examination guidelines to incorporate the concept of fair servicing. They began to scrutinize potential discriminatory loss mitigation and foreclosure practices and threatened to hold mortgage servicers accountable if such impermissible practices were identified.