Tag Archives: Mortgage Statements to Get Consumer-Friendly Makeover

The Consumer Financial Protection Bureau announced it will be offering up new rules for mortgage servicers aimed at making monthly mortgage statements more transparent in disclosing fees or changes in a loan. “For too long, mortgage servicers have not been held accountable to their customers, and the result has been profoundly punishing to home owners in distress,” says Richard Cordray, director of the consumer bureau. “It’s time to put the ‘service’ back in mortgage servicing.” Servicers will be required to provide more details in monthly mortgage statements. For example, the […]