CFPB Imposes Hefty Fine on Mortgage Servicer for Alleged Violations of Servicing Rules

On June 7, 2017, the Consumer Financial Protection Bureau issued a Consent Order against mortgage servicer Fay Servicing, LLC , requiring Fay Servicing to pay $ 1.15 million to borrowers and to cease activities that the CFPB contended violated the Real Estate Settlement Procedures Act , its implementing regulation, Regulation X, and the Consumer Financial […]