Menu

Showing 1 post in Regulatory Compliance.

CFPB Issues New Mortgage Servicer Guidelines for Transferring Loans to a New Servicer

The Consumer Financial Protection Bureau (CFPB) recently published compliance guidanceeffective immediately—on the handling of information and documents during the transfer of a mortgage loan to a new servicer. Following related guidance issued in 2014 on these mortgage servicer transfers, CFPB supervisory examiners have continued to document weaknesses in servicer compliance management systems and violations of Regulation X, including inadequate policies and procedures for transferring loan information and documents in a timely and accurate manner that ensures uninterrupted continuation of required servicing functions. More ›

Search
Subscribe via Email