Mortgage Servicing Rules

Mortgage Servicing Rules are regulations designed to protect borrowers during the management of their home loans. These rules govern how mortgage servicers—companies that manage loans—must communicate with borrowers, handle payments, address delinquencies, and process foreclosures. They ensure fairness by requiring servicers to provide clear information, conduct timely reviews for loan modifications, and notify borrowers about actions affecting their mortgage. Overall, these rules aim to create a more transparent and responsible mortgage servicing process, reducing confusion and potential abuse in the handling of home loans.