CFPB Mortgage Servicing Amendments

As part of our ongoing communications to you regarding the progress of this project, please see our monthly CFPB Mortgage Servicing Amendments update.

Noteworthy Updates:

• The Executive Summary has been updated and provided.
• The BRD document has been updated and provided. Over the past several weeks, minor changes have been made to: Loss Mitigation – Prompt Pay Crediting, Request for Information, Early Intervention, and Periodic Billing Statements. Details regarding these revisions can be found in the revision history for each section.
• The following sections have successfully completed Validation and are ready for Go Live:
  • Definition of Delinquency
  • Request for Information
  • Force Place Insurance
• Periodic Statements is in Validation. Validation to be Completed 10/6.
• Loss Mitigation Servicing Transfers is in Validation. Validation to be Completed 10/6.
• Loss Mitigation/Prompt Pay Crediting is in Validation. Validation to be Completed 10/10.
• Early Intervention is in Validation. Validation to be Completed 10/10.
• Periodic Billing Statements – Bankruptcy and Successors in Interest are currently on schedule and in the implementation phase.
• Current project plans for all items have been included.

As the implementation date nears, we recognize the importance of communicating to you our progress on the project. Because of this, communication will be provided weekly throughout the month of October. If you have any questions about the documents provided here or implementation, please contact compliancechgmgnt@cenlar.com.