The CFPB has released its proposed mortgage servicing rules. The proposals consist of a 250-page Real Estate Settlement Procedures Act (Regulation X) rule and a 178-page Truth in Lending Act (Regulation Z) rule. Comments on the proposals will be due by October 9, 2012.
While the proposals’ page count may seem modest compared to the CFPB’s nearly 1,100 page proposal integrating RESPA/TILA disclosures, the servicing proposals are untypically single-spaced rather than double-spaced. … Continue Reading