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The Consumer Financial Protection Bureau (CFPB) released the highly anticipated mortgage servicing rules on Jan. 17. The rules were released in two notices — one amending the Truth in Lending Act (TILA) and the other amending the Real Estate Settlement Procedures Act (RESPA). The bureau indicated that the rules will protect mortgage borrowers from costly surprises by servicers.
But the rules are complicated, and servicers are just beginning to get their arms around the new requirements and the onerous task of bringing their companies into compliance. Produced by RESPA News, this special report drills down on each of the elements in the new rules and provides some analysis around industry concerns and implementation challenges.
Download this report and ramp up your understanding of how the new mortgage servicing rules amend TILA and RESPA including what the rules have to say about:
Cover Story: