CFPB Mortgage Servicing Amendments

As part of our ongoing communications to you regarding this project, attached you will find our CFPB Mortgage Servicing Amendments update for the month of December 2017.

Noteworthy Updates:

  • The most current version of the Executive Summary has been provided.
  • The following sections, effective October 19, 2017, have been successfully implemented and are currently in Sustainability Testing:
    • Definition of Delinquency
    • Request for Information
    • Force Place Insurance
    • Early Intervention
    • Loss Mitigation/Servicing Transfers
    • Loss Mitigation/Prompt Payment Crediting
    • Periodic Statements (Non-Bankruptcy)
  • Periodic Billing Statements – Bankruptcy and Successors in Interest are currently on schedule and in the implementation phase.
  • The current project plan for all items has been included.
  • Additionally, Cenlar will be hosting a conference call for our Clients on Thursday, January 11th. Further details will be provided in a separate Advisory.

Any questions can be sent directly to compliancechgmngt@cenlar.com and the Compliance Department will respond within 24 hours of receipt (excluding weekends and holidays).