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ARTICLE · 22 APRIL 2015

CFPB And FTC Indicate Expanded Coordination Through Joint Complaint And Consent Order Against Mortgage Servicing Company

Venable LLP
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On April 21, 2015, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed a complaint and consent order against Green Tree Servicing, LLC, a mortgage servicing company.

United StatesConsumer Protection
Jeffrey Knowles
Jeffrey Knowles
Allyson B. Baker
Allyson B. Baker
Peter Frechette
Peter Frechette

On April 21, 2015, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed a complaint and consent order against Green Tree Servicing, LLC, a mortgage servicing company. The joint CFPB and FTC complaint against Green Tree represents the first time the agencies have filed a joint enforcement action. The complaint also reflects the agencies' ongoing interest in all aspects of mortgage servicing.

Green Tree, as described in the complaint, engages with borrowers, processes payments, and administers short sale and foreclosure relief or "loss mitigation" programs provided by the owner of the loans it services. The agencies allege that Green Tree violated consumer protection laws governing mortgage servicing and debt collection practices.

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