Archive: 18 February 2014

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CFPB Publishes New Mortgage Servicing Exam Procedures
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Consumer Financial Services Group Hosts Webinar Series

CFPB Publishes New Mortgage Servicing Exam Procedures

By: Nanci L. Weissgold, Kerri M. Smith, Christopher Shelton*

*Mr. Shelton is not admitted to the practice of law in the District of Columbia.

The CFPB has released updated exam procedures for reviewing mortgage servicers, incorporating the Mortgage Servicing Rules (“the Rules”) that became effective on January 10, 2014. These updated exam procedures still focus on nine major modules covering routine servicing, default servicing, and foreclosure. However, they frequently cross-reference the TILA and RESPA exam procedures that were updated in November 2013 to reflect the Rules. Because of the overlap in coverage and the reliance on cross-referencing, the updated servicing exam procedures are shorter than the prior version of the CFPB’s Examination Manual, although there are some notable additions. Read More

Consumer Financial Services Group Hosts Webinar Series

Members of the Consumer Financial Services Group will host a webinar series during February and March.

On February 26, 2014 from 2:00 -3:30 p.m. EST, the group will host “Navigating the Legal Landscape Between Broker and Correspondent.” Presenters include: Costas A. Avrakotos, Holly Spencer Bunting, Jonathan D. Jaffe, Kris D. Kully, Stephanie C. Robinson, David A. Tallman Read More

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