CFPB Issues Guidance Relating to Early Compliance with the 2016 Mortgage Servicing Final Rule

The CFPB issued non-binding policy guidance with respect to early compliance with the 2016 Mortgage Servicing Final Rule (Final Rule). Certain provisions of the Final Rule have an effective date of October 19, 2017 while other provisions go into effect April 19, 2018. Pursuant to the guidance, the CFPB will not take any enforcement action in the event a servicer elects to comply with the Final Rule up to 3 days prior to the applicable effective dates.

Click here to view the CFPB Guidance on Early Compliance with 2016 Mortgage Servicing Rule