CFPB Issues Ammendments to the 2016 Mortgage Servicing Final Rule

09 Mar 2018 9:18 AM | Edie Tella (Administrator)

The 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.  Click link below for final rule

https://www.consumerfinance.gov/policy-Compliance/guidance/implementation-guidance/mortserv/

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