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Volume 28 - Number 16

July 31, 2017

CFPB to Propose Substantive Changes to Servicing Rule

The CFPB plans to make some significant, but unspecified, changes to its mortgage servicing rule sometime this fall, in response to concerns raised by the industry, the bureau revealed in a blog posting about its latest semiannual rulemaking agenda, released earlier this month. The document is current as of April 1, 2017, and does not reflect the bureauís issuance of its arbitration final rule, its assessments of its mortgage servicing rule under the Real Estate Settlement Procedures Act and its ability-to-repay rule, nor its proposed temporary increase in the institutional and transactional thresholds for home equity lines of credit. The agency said it is ďconsidering concerns raised by industry participants regarding a few substantive aspects of the mortgage servicing rule ...

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