CFPB Mortgage Servicing Amendments

As part of our ongoing communications to you regarding this project, you will find our CFPB Mortgage Servicing Amendments update for the month of February 2018 here.

Noteworthy Updates:

  • The most current version of the Executive Summary has been provided.
  • The current project plan for all items has been included.
  • The following sections, effective October 19, 2017, have been successfully implemented and Sustainability Testing is currently being finalized:
    • 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 Requirements) and Successors in Interest changes have had their testing stages extended to 3/20/2018 – as a result, the Project State has been moved to “Yellow;” however, the project is still expected to hit the regulatory deadline of 4/19/2018.

Any questions can be sent directly to compliancechgmngt@cenlar.com and the Compliance Department will respond within one business day of receipt.