���In pursuing these rules, the Bureau
struck a carefully calibrated balance.
The rules mandate a fair process
but do not require that a servicer, or
an investor, offer any particular type
of loss mitigation option or apply
any particular criteria in considering
such options. Importantly, the rules
apply to the entire market, not
just to banks and other depository
institutions.���
���Richard Cordray, director of the Consumer
Financial Protection Burea, before the Senate
Committee on Banking, Housing, and Urban Affairs
on February 14, 2013
58
