The US Consumer Financial Protection Bureau (CFPB) released its final rules for mortgage servicers in February 2013, followed by sequels in July 2013, September 2013, October 2013 and October 2014. The CFPB rule writers then seemed to focus their energy on other creative projects, and fans of lengthy new servicing regulations feared for the future of the franchise. Proving the doubters wrong, last week the CFPB issued a blockbuster 900-page final servicing rule.
Please join our Consumer Financial Services team for a discussion of the new rule. We will focus on the most challenging implementation issues and offer practical suggestions to deal with those challenges.