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CFPB order against reverse mortgage servicers could have wider implications

The Consumer Financial Protection Bureau (CFPB) last month issued an enforcement order against former Home Equity Conversion Mortgage (HECM) servicing contractor NOVAD Management Consulting and subcontractor Sutherland Global for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” An attorney said the decision could have broad implications for mortgage servicing.

In an article published by The National Law Review, attorney Jonathan R. Kolodziej of Bradley Arant Boult Cummings LLP said that the order details ⇒

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