Quantcast
breaking news

New Mortgage Rules Aim to Protect

By: Big 2 News Staff
Updated: January 17, 2013
watch video

The Consumer Financial Protection Bureau has issued new rules for mortgage servicers that handle things like loan modifications and foreclosures.

Apparently many of the companies are unable to handle the flood of delinquent loans, and the feds say that's led to unnecessary foreclosures.

Now, there are restrictions that prohibit servicers from foreclosing on borrowers seeking loan modifications.

There are also guidelines for issuing clear, straightforward mortgage statements.

Still, consumer advocates say the new rules don't go far enough.

Comments

Readers Feel...

hello
Related Content

Police say he asks for a hefty down payment, but doesn't do the work....

The clock is ticking for lawmakers hard at work to pass prize bills in the final days of the 83rd legislative session. Here's a look at what's still outstanding....

Look at your calendar. It's about to be Perry time....

When Gov. Bobby Jindal of Louisiana wanted to sell his plan to replace his state's income tax with a higher sales tax, he pointed to Texas as both the problem and the solution....

A car-pedestrian accident in Odessa sends one man to the hospital in critical condition....

Good Morning West Texas Birthday Shout out!...

It's Harper's first "photo bomb"!...

Big 2 Community Calendar- We're Big on YOU!...

After much needed rainfall from Snyder to Big Spring to San Angelo today we will see the chances for more isolated activity develop....

The vote by its 1,400 national membership came as no surprise to gay rights advocates, who hailed it as a first step to ending discriminatory practices in the 103-year-old organization....

 
 
Do you think your home can weather a strong storm?
 



 
 
 
©1998 - 2013 Permianbasin360.com
Nexstar Broadcasting, Inc.
All Rights Reserved