The Consumer Financial Protection Bureau continued its enforcement work despite the business disruption today, announcing it had reached a consent order with Specialized Loan Servicing, LLC (SLS), a mortgage servicer in Colorado, over allegations of violations of RESPA’s mortgage servicing rules.
The bureau charged that SLS took foreclosure actions against borrowers who were entitled to foreclosure protection, and failed to send, or timely send, evaluation notices to borrowers who were entitled to them.
Read on for more details from the bureau’s latest enforcement action.