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Regulators address mortgage servicer practices

Federal regulators recently issed joint guidance to address mortgage servicer practices that may be potential risks to certain homeowners who are servicing in the military.

According to the FDIC, the guidance pertains to risks related to military homeowners who have informed the servicer that they have received Permanent Change of Station orders that relocate them to a new duty station. Regulators issued the guidance to state pose risks and to ensure compliance with applicable consumer laws and regulations.

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