Proposed Mortgage Assistance Rule Offers Tip for Servicers

The Consumer Financial Protection Bureau recently issued a proposed rule that, if passed, would alter the current Regulation X mortgage servicing procedures. Regulation X provides consumer protection in the context of several substantive aspects of the mortgage process, including loss mitigation procedures for residential mortgage servicers. Read this Law360 Article for an overview of the proposed amendments and compliance practices that will become part of Regulation X.

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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).

• Loss Mitigation Application Checklist
  Use this checklist for guidance on loss mitigation compliance procedures for residential mortgage servicers.

• 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 practice note for a 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).

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