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GAO: Community lenders not leaving mortgage servicing
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A new report from the Government Accountability Office (GAO) shows that new mortgage servicing rule promulgated by the Consumer Financial Protection Bureau in 2014 have not driven community banks and credit unions out of the mortgage servicing business. The report did express concerns from GAO on whether the bureau would effectively be able to examine the impact of the rules by a January 2019 deadline. Read on for the details.
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