All Categories
    Filters
    Preferences
    Search

    CFPB Issues Amendments to the 2016 Mortgage Servicing Final Rule

    The Consumer Financial Protection Bureau has issued a Final Rule amending the 2016 Mortgage Servicing Rule.  This final rule replaces the single-billing-cycle exemption for periodic statements and coupon books with a single-statement exemption when servicers transition to providing modified or unmodified periodic statements and coupon books to consumers entering or exiting bankruptcy. This final rule provides a single-statement exemption for the next periodic statement or coupon book that a servicer would otherwise have to provide, regardless of when in the billing cycle the triggering event occurs.

     

    You can access this final rule at: https://www.consumerfinance.gov/policy-compliance/guidance/implementation-guidance/mortserv/

    Leave your comment