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Home » Store » Supervision & Examination » Revised Bankruptcy Reporting Rules Issued for Servicers

Revised Bankruptcy Reporting Rules Issued for Servicers

$55.00
Supervision & Examination

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The CFPB recently issued a final rule that the agency said would help mortgage servicers communicate with borrowers facing bankruptcy. The rule amended the timing requirements for servicers to provide periodic statements to consumers in bankruptcy. The rule will go into effect on April 19. At that point, servicers will be required to send monthly billing statements to consumers in active bankruptcy cases and certain cases in which the debtor’s personal liability was previously discharged. To give ...
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