Phase II of the CFPB Servicing Rule Amendments: Periodic Statements for Consumers in Bankruptcy and Successors in Interest

The April 19 effective date for the remaining CFPB servicing rule amendments is fast approaching. Mortgage servicers must be prepared to meet complex new requirements for sending periodic statements to consumers in bankruptcy, and for communicating with successors in interest. The additional changes create significant operational challenges, and present new regulatory and litigation risk considerations.

Our attorneys will discuss these amendments, and offer guidance for servicers during the remaining implementation period and for life after the effective date.

Please join us as we discuss the following topics:

• Overview of the new requirements

• Practical considerations and challenges from a bankruptcy perspective

• Implementation and operational challenges

• Analysis of the impact on litigation risk, and tips for mitigation such risk

• Suggestions and best practices for adapting to the new requirements