Flagstar, CFPB in Negotiations Over Default Servicing

Flagstar Bancorp is negotiating with the Consumer Financial Protection Bureau over potential violations in the Troy, Mich., company's default servicing business.

The $9.5 billion-asset company disclosed the settlement talks in a regulatory filing Tuesday.

The CFPB alleges that Flagstar's bank violated consumer protection laws with loss-mitigation practices that date back to 2011, the filing said.

Flagstar said it had provided the agency with documents and other information and is having ongoing discussions about a settlement. "The bank intends to vigorously defend against any enforcement action that may be brought," the filing added.

Next in Servicing ►
More in Servicing See All »
Comments (1)
Hopefully the CFPB will fill charges against Nationstar next.
Posted by allen g | Wednesday, August 27 2014 at 4:00PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.