California Mortgage Servicer Settles for $4.6M Over Pandemic Foreclosure Violations

Select Portfolio Servicing paid $4.6M to settle charges of pandemic-era foreclosure law violations in California.

A large mortgage servicer handling subprime loans has agreed to a settlement with California's Attorney General for allegedly breaking mortgage servicing and debt collection laws during the pandemic. The $4.6 million payment addresses violations that affected homeowners seeking protection from foreclosure during the economic crisis. This settlement underscores California's enforcement of consumer safeguards meant to protect borrowers when they're most vulnerable to losing their homes.

Summary by callmor.ai. Read the original article →