Flagstar mortgage servicing settlement with CFPB imminent

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The CFPB noted that its settlement with Flagstar does not prevent borrowers from bringing their own civil actions. flagstar must end its mortgage servicing violations and is prohibited from future.

“The CFPB had tread. a $37.5 million settlement with Troy, Michigan-based Flagstar Bank in September over allegations it blocked borrowers’ attempts to save their homes. The agency barred Flagstar.

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The Consumer Financial Protection Bureau is a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly. Featured Whether you want to put money aside for unexpected expenses or make a plan to save for your future goals, we have resources that can help.