CFPB Clears Things Up For Mortgage Servicers

Law360, New York (October 28, 2013, 12:49 PM EDT) -- On Oct. 15, 2013, the Consumer Financial Protection Bureau approved an interim final rule amending certain mortgage-servicing rules enacted in January 2013 and issued a related bulletin providing guidance to mortgage servicers. The October rule becomes effective on Jan. 10, 2014, and amends Regulation X of the Real Estate Settlement Procedures Act (RESPA) and Regulation Z of the Truth in Lending Act (TILA) to resolve conflicts between RESPA, TILA, Fair Debt Collection Practice Act (FDCPA) and the Bankruptcy Code, as well as clarifying communication rules between...
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