The Consumer Financial Protection Bureau will issue mortgage servicing rules this year that would impose new limits on force-placed insurance products and require additional disclosures for adjustable-rate mortgages, Director Richard Cordray said Tuesday.
The bureau will also issue a rule requiring servicers to provide consumers with better information in their billing statements, Cordray said in a speech to the National Association of Attorneys General annual meeting in Washington. Fixing the mortgage market is an “urgent priority” for the CFPB, he said.
“We now have the ability to examine participants in all segments of the mortgage market, and our authority over nonbanks will be especially helpful,” he said.
While all travelers will benefit from reviewing and implementing these travel safety tips, seniors have a few extra concerns. They have to make sure pre-existing medical conditions are well managed before and during their trip. They have to take enough regular medication to last their entire trip. They also have to be aware of their own physical limits while traveling.