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Home » Store » Inside Mortgage Finance » CFPB Appears Open to Further Restrictions on “Dual Tracking”

CFPB Appears Open to Further Restrictions on “Dual Tracking”

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Inside Mortgage Finance

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CFPB Director Richard Cordray seemed to suggest recently the bureau is open to tightening restrictions on the mortgage servicing industry’s practice of “dual tracking,” by which servicers move forward with foreclosure proceedings while simultaneously evaluating a homeowner for possible loss mitigation alternatives. Appearing before attendees at a recent National Consumer Law Center Conference, Cordray conceded that the bureau has received pointed criticism from consumer advocates about its mortgage...
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