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CFPB will identify ways to simplify mortgage servicing rules

The Consumer Financial Protection Bureau (CFPB) will look for ways to streamline and simplify mortgage servicing rules in the months ahead following public comment on how to reduce risks for borrowers having trouble with their mortgage payments, according to a blog post from CFPB Director Rohit Chopra.

Chopra noted in the post the importance of mortgage servicing rules to the ability for borrowers to keep up with their loans — despite servicers being chosen by the lender and not the borrower, he said.

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