WASHINGTON — The Consumer Financial Protection Bureau will issue mortgage servicing rules this year that would impose new limits on force-placed insurance products and require additional disclosures for adjustable-rate mortgages, Director Richard Cordray said Tuesday.

The bureau will also issue a rule requiring servicers to provide consumers with better information in their billing statements, Cordray said in a speech to the National Association of Attorneys General annual meeting in Washington. Fixing the mortgage market is an "urgent priority" for the CFPB, he said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.