Description
Financial institutions have been implementing new regulations through board-approved policies for decades. As existing regulations are revised and new regulations are published existing polices need to be updated. Policy Updates are designed to simplify the task of updating existing policies, regardless of where the existing requirement is lodged. The Regulation X Continuity of Contact Policy Update communicates the Board’s intent to comply with the provisions of Regulation X, §1024.40 which establishes requirements for continuity of contact for borrowers with delinquent mortgage loans.
Reviewed 10.01.2020
