Thursday, July 30, 2015

CFPB fines Residential Credit Solutions $1.5 million for illegal mortgage servicing

According to the CFPB, Residential Credit Solutions failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they were due a refund, and forced consumers to waive their rights in order to get a repayment plan.

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