March 3rd, 2014 9:28 AM by Christopher Lear
Do you remember when you applied for a mortgage loan?
Then after the closing you got a notice to make your mortgage payments to another company?
Well, this company is called a “mortgage servicer,” meaning that they have been assigned to collect your monthly payments and, if you have an escrow account, pay your taxes and insurance.
I wanted you to know that the Consumer Finance Protection Bureau has some new rules when it comes to calling or writing for information about your account.
Prior to this, there were no “rules” and servicers could take their sweet time (even if they answered at all) to answer your questions and make corrections to your account.
Here’s what they must do now — regardless if you write a letter or contact them by phone or email:
If your mortgage servicing company does not follow the above rules and dates, here’s the contact information to complain to the Consumer Finance Protection Bureau.