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Home » Store » Regulation » CFPB to Propose Substantive Changes to its Mortgage Servicing Rule, Latest Agenda Reveals

CFPB to Propose Substantive Changes to its Mortgage Servicing Rule, Latest Agenda Reveals

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The Consumer Financial Protection Bureau plans to make some significant, but as yet 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. The agency said it is “considering concerns raised by industry participants regarding a few substantive aspects of the mortgage servicing rule that we used in August 2016. These aspects may be posing particular complexities for implementation that were not anticipated in the course of the original rulemaking. We expect to issue a proposal to make one or more substantive changes to the rule in response to these concerns this fall – perhaps as early as September.” Edward Mills, an analyst with FBR Capital Markets & Co., said...
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