Successors In Interest
When a borrower dies or otherwise transfers an interest in a
mortgaged property to someone else, it may be difficult for the
successors to establish their ownership of the property and obtain
information needed to protect their financial interest. The 2016
Amendments define successors in interest, provide a basic structure
for effective communication between successors and mortgage
servicers, and extend to confirmed successors the same rights that
borrowers and consumers have under the Regulation X and Z
mortgage servicing rules.
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