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
The third webinar in the series provides an in-depth look at the CFPB’s amendments to the Mortgage Servicing Rules that relate to borrowers in bankruptcy. Our presentation explains and analyzes 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 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 provide practical implementation tips—such as suggested terminology adjustments—based upon prior experience in this area.
Bradley Speakers:Jonathan Kolodziej