CFPB Tweaks Mortgage Servicer Rule

Law360 (March 8, 2018, 8:17 PM EST) -- The Consumer Financial Protection Bureau said Thursday it is tweaking its mortgage servicing regulation to help servicers communicate with certain consumers entering or exiting bankruptcy, issuing a final rule the day after seeking feedback on the way the bureau makes such rules in the first place.

The newly finalized rule adjusts the amount of time that servicers have to start or stop sending out borrower statements containing bankruptcy-specific modifications and is intended to address concerns that servicers had raised about the previous iteration of this timing...
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