A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules


The Consumer Financial Protection Bureau (CFPB) issued its final rules regarding mortgage servicing last week which will undoubtedly change mortgage servicing operations in the United States - and according to some commentators, may lead to certain loan originators and servicers giving up the mortgage business entirely. The CFPB was required to announce final rules for mortgage regulations mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act by January 21.

With the new rules going into effect on January 10, 2014, mortgage servicers must now focus on achieving compliance within the next 12 months. Join our panel to discuss the requirements of the CFPB’s Final Rules and what loan servicers need to do to comply.


Timothy R. McTaggart, Partner, Pepper Hamilton LLP


Daniel G. Murray, Partner, Pepper Hamilton LLP

Audrey D. Wisotsky, Partner, Pepper Hamilton LLP

•Title XIV of the Dodd-Frank Act is known as the Mortgage Reform and Predatory Lending Act.

•It makes significant changes to all aspects of mortgage lending rules and practices from origination to servicing.

•The Bureau is given broad authority to adopt regulations under Title XIV.

•Regulations were required to be issued by January 21, 2013.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Pepper Hamilton LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.