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Home » Store » Supervision & Examination » Successors in Interest May Be Toughest Compliance Hurdle in Latest Changes to CFPB Servicing Rule

Successors in Interest May Be Toughest Compliance Hurdle in Latest Changes to CFPB Servicing Rule

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Supervision & Examination

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The most challenging aspect of complying with the pending amendments to the Consumer Financial Protection Bureau’s mortgage servicing rule will be implementing the successors-in-interest provisions, according to industry experts. Most of the revisions to the rule, issued last year by the CFPB, take effect Oct. 19, 2017. But the successor-in-interest requirements kick in April 19, 2018. Addressing an audience at the 2017 American Bankers Association regulatory compliance conference in Orlando this week, compliance professionals broke...
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