USFN–America’s Mortgage Banking Attorneys and its member firms from across all 50 states will soon be publishing a comprehensive guide and matrix in order to provide mortgage servicers with assistance in navigating the Consumer Financial Protection Bureau’s (CFPB) new successor in interest regulations.
The guide, which will offer information tailored to each state, as well as Washington, D.C., and Puerto Rico, is expected to be available this summer, USFN says in a release.
With the new successor in interest regulations slated to go into effect in spring 2018, planning and preparation for adopting and adhering to the new rules should be under way. The new guide and matrix will offer a complete state-by-state summary, including, but not limited to, specific steps to take when the need to identify and verify a successor in interest arises, the documents needed and their locations, and other details that will increase the ability to seamlessly maintain compliance.
“Throughout USFN’s history, industry professionals have come to rely on our organization to provide them with publications that are accurate, complete and affordable, and our successor in interest guide and matrix will be no different,” says Alberta Hultman, executive director and CEO of USFN, in the release. “With industry experts in all 50 states, as well as D.C. and Puerto Rico, we are diligently working with each member firm to comprise a verified and detailed guide that will help make the process of complying with these new CFPB regulations a smooth transition.”
Once finalized, the guide and matrix will be available for purchase for $595 for members and servicing professionals and $745 for others.