New rules aim to protect homeowners from foreclosure

Federal officials issued new rules for mortgage servicers Thursday aimed at protecting homeowners facing foreclosure. But consumer groups say the rules don’t do enough to help prevent borrowers from unnecessarily losing their homes.

Since the housing crisis began, many mortgage servicers — which collect payments for the owner of the loan and handle things like loan modifications and foreclosures — have been ill equipped to handle the flood of delinquent loans, the Consumer Financial Protection Bureau said.

 

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