Following the recent finalization of mortgage servicing amendments, the Consumer Financial Protection Bureau announced that it has updated its Small Entity Compliance Guide to reflect the changes.
These amendments to the servicing rules replace the single-billing-cycle exemption for periodic statements and coupon books with a single-statement exemption when servicers transition to providing modified or unmodified periodic statements and coupon books to consumers entering or exiting bankruptcy.
Read on for more from the bureau’s announcement.
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