Risk Watch 33: New Servicing Rules: Is the Honeymoon Over?

Up until recently, the CFPB has seemingly been satisfied with imperfect compliance with the new mortgage servicing rules, so long as a “good faith effort” to comply with the rules is demonstrated. But the recent actions against Flagstar Bank seem to signify that the good faith effort isn’t enough anymore. In this video, AffirmX’s SVP and In-House Counsel Jane Pannier discusses what has happened and what it means for your institution. [10/10/14]