New Mortgage Servicing Rule Results in Victory For Homeowner

New Mortgage Servicing Rule Results in Victory For Homeowner

  The Dodd-Frank Act is proving to be a ally for homeowners and giving individuals a voice against big banks. New mortgage servicing rules took effect in 2014, implementing provisions of the Dodd-Frank Act, which impose significant obligations on mortgage servicers, including the obligation to conduct reasonable investigation upon receipt of a notice of error, and to respond to the notice within certain time frames and with certain information.  In May of 2016, the 11th Circuit United States Court of Appeals addressed the new mortgage servicing rules in a case between a homeowner and a mortgage servicer. In this case,...Read more