The bureau said it will “closely monitor how servicers engage with borrowers, respond to borrower requests, and process applications for loss mitigation.” If compliance issues arise, it will take into account a servicer’s overall effectiveness in helping consumers.
Bottom line: A committee within the CSBS determined that "regulatory prudential standards enforceable by state regulators are warranted and advisable at this time.”
The number of complaints in the annual report submitted to Congress is substantially higher than figures reported on the bureau’s public-facing website...
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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