The CFPB’s 2016 Mortgage Servicing Rules – Introduction and What You Need To Know
September 21, 2016
In 2013, the Bureau issued mortgage servicing rules under both the Truth in Lending Act (Reg. Z) and Real Estate Settlement Procedures Act (Reg. X), effective January 10, 2014. Several issues arose and the Bureau proposed amendments to those rules in November 2014. That rule proposal, finalized on August 4, 2016, and effective in one year, impacts nine servicing areas: successors in interest, definition of delinquency, requests for information, force-placed insurance, early intervention, loss mitigation, prompt payment crediting, periodic statements and small servicer issues. In this webinar, we discuss the new rules, what you need to know, and what you should do now to start preparing for implementation.
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