NEW! State Law Comparison Tool Topic: Mortgage Servicing Fees

Practical Guidance now offers a Mortgage Servicing Fees topic in the FSR state law comparison tool. The topic explores the statutory fee requirements in fifteen key U.S. states, with more coming soon​. This question and answer series provides guidance on permissible mortgage servicing fees for institutions. Practitioners can access the tool to gain an understanding of regulatory requirements on disclosures and statutory fees that may be charged by a company servicing consumer residential mortgages.

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Related Content                                                 

• Mortgage Servicing Issues and Regulatory Considerations
  Review this practice note discussing mortgage servicing issues and considerations for practitioners to evaluate under the Truth-in-Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). This practice note also reviews steps that must be undertaken in a mortgage servicing transfer.

• TILA-RESPA Integrated Disclosure (TRID) Compliance
  Explore best practices for complying with the TILA and RESPA Integrated Disclosure rule, commonly known as TRID, and ensure regulatory compliance with federal mortgage disclosure requirements implemented by Regulation Z.

• Fair Lending Guidance and Disclosure Requirements for Residential Mortgages
  Access this comprehensive overview of fair lending laws, regulations, and disclosure requirements related to residential mortgages under the Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), and the Fair Housing Act (FHA).

• Unfair, Deceptive, and Abusive Acts or Practices (UDAAPs) Restrictions Compliance Checklist
  Utilize this UDAAP checklist to assist in assessing the adequacy of policies, procedures, and controls designed to prevent UDAAP violations.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.

• Trends & Insights provides the latest in news articles and insights documents on trending areas for financial service organizations.
• Mortgage Servicing Regulation Resource Kit, RESPA Regulation Compliance Resource Kit, and Fair Lending Regulation Resource Kit provide links to practice notes, checklists, templates, and guidance on key issues, laws, and regulations applicable to in-house lawyers and counsel advising on mortgage transactions.
• Fair Lending Regulation Regulatory Tracker contains key rules from bank regulatory agencies (final and proposed) on federal consumer fair lending regulations.
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