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CFPB Probing Alleged "Junk Fees" in Mortgage Closing Costs | Troutman Pepper

CFPB Probing Alleged "Junk Fees" in Mortgage Closing Costs | Troutman Pepper
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Supreme courtConsumer financial protection bureauSupervisory highlights

CFPB Highlights Junk Fees in Mortgage Servicing in Recent Report

On April 24 2024 Consumer Financial Protection Bureau CFPB published supervisory highlights describing ongoing concerns regarding junk fees in mortgage servicing.

Rohit chopraConsumer financial protection bureauFannie maeGo to guideSupervisory highlights

How surging escrows are exposing servicers to new risks

Unusual spikes in property taxes and insurance in many areas are causing servicing concerns that mortgage companies may not be used to managing.

Seth spragueAustin tilghmanMortgage bankers associationUnited capitalCapital markets conferenceSupervisory highlights

United States - Financial Services - CFPB Releases Report Highlighting Junk Fees In Mortgage Servicing

On April 24, 2024, the CFPB unveiled its latest edition of Supervisory Highlights, shedding light on its ongoing battle against what it deems as "junk fees" imposed by mortgage servicers.

Rohit chopraConsumer financial protection bureauFannie maeGo to guideSupervisory highlightsDirector rohit chopra

CFPB Releases Report Highlighting Junk Fees In Mortgage Servicing

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United statesSan franciscoRohit chopraTimothya butlerFannie maeMondaq ltdRule to stop junk fee on bankConsumer financial protection bureauGreenberg traurigFinancial protection bureauSupervisory highlightsButler quotedFinal rule banningExcessive credit card lateProposed ruleJunk fee

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