New Rules for Mortgage Transfers

Dennis Norman St Louis

Dennis Norman

Home mortgages are often sold or assigned, sometimes even right after the origination of the loan and, as a result, borrowers find themselves not knowing who their current lender is or how to contact their lender. This issue was addressed back in May 2009, as part of the Helping Families Save Their Homes Act, lenders that purchased home mortgages were required to provide disclosures in writing to the borrower within 30 days.

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