Mortgage Servicing and Loan Modifications: 3.3.3.4 Notice of Error Related to Loss Mitigation Application
The addition of the catch-all error provision in section 1024.35(b)(11) and the expansion of servicing made by the 2013 amendments to Regulation X lead to the question of whether a borrower can assert in a notice of error a servicer’s failure to correctly evaluate a borrower for a loss mitigation option?