New Requirements on Billing Statements
Billing statements are now required to have more detail informing the homeowner of charges and what the mortgage lender claims is owed.
New Requirements on Forced Place Insurance
Beginning January 10, 2014, servicers are required to give two notices to borrowers who have failed to pay their home property insurance. If the borrower does not pay the insurance, the insurance company must then advance the insurance premium.
Rules on mortgage servicing from the Consumer Financial Protection Bureau.