CFPB Mortgage Servicing Amendments Bankruptcy

The CFPB’s recent amendments to the 2013 Mortgage Servicing Rules significantly impact communications with borrowers in bankruptcy. Servicers likely will face substantial technological and procedural challenges as they work to implement and operationalize the requirements set forth in the amended Mortgage Servicing Rules. Join us on September 27 for Part 3 of our CFPB Mortgage Servicing Amendments webinar series to learn about the changes in the servicing of loans impacted by bankruptcy.

The third webinar in the series will provide an in-depth look at the CFPB’s amendments to the Mortgage Servicing Rules that relate to borrowers in bankruptcy. Our presentation will explain and analyze the two areas of the mortgage servicing rules where the CFPB removed existing exemptions and made significant changes with respect to borrowers in bankruptcy:

• Early intervention written notice
• Periodic billing statements 

We will also discuss other implications these rules may have, along with emerging areas of concern and potential gaps in regulatory guidance you will face as you implement the required communications. Throughout the discussion we will provide practical implementation tips—such as suggested terminology adjustments—based upon prior experience in this area.

Interested in learning about the new requirements specific to borrowers in bankruptcy? Wondering how these new rules will impact your business? Join us on September 27 and we'll tell you "What You Need to Know."