Comparing Dual Track Foreclosure Restrictions
Published: June 13, 2013
Dual tracking is the servicer practice of simultaneously pursuing loan modifications and foreclosure proceedings. This chart offers a side-by-side comparison and analysis of how the National Mortgage Settlement, the California Homeowner Bill of Rights, and related rules from the Consumer Financial Protection Bureau have each taken steps towards eliminating this practice. The comparison includes variances in rule applications, borrower outreach requirements, denial notices, and more.