CFPB Highlights Mortgage Servicing Issues for Successor Homeowners
The CFPB's report highlights challenges faced by homeowners dealing with mortgage companies after a divorce or the death of a borrower, including pressure to refinance at higher rates, delays in processing paperwork, refusal to release the original borrower from liability, and risks to domestic violence survivors, urging servicers to better comply with federal rules and protect homeowner rights. [12/19/24]