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The Consumer Financial Protection Bureau (CFPB) recently
released a final rule amending the existing mortgage servicing
rules in Regulations X and Z. The CFPB first proposed to amend
these rules in November 2014 and, after receiving considerable
feedback from both industry and consumer stakeholders, has now
released a final rule that will very likely present implementation
and compliance challenges for mortgage servicers.
Republished with permission. This article was first
published in the October 2016 issue of Servicing Management.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
