On November 30, 2016 the Consumer Financial Protection Bureau published an updated version of the Small Entity Compliance Guide entitled Real Estate Settlement Procedures Act (Regulation X) and Truth In Lending Act (Regulation Z) Mortgage Servicing Rules. The Guide is updated to reflect the August 2016 Final Rule that makes significant changes to the servicing rules contained in both regulations.
The August 2016 Final Rule changes impact all financial institutions. The impact on small servicers is less significant than for other institutions. The Guide contains a separate section that explains the small servicer exemption and the servicing provisions that do not apply to small institutions.
The revised guide is available at: https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/201611_cfpb_Mortserv_guide_v3.pdf.
