Introduction to Mortgage Servicing Examinations Training

Mortgage Servicing Examination Resources Cont.

Loan Boarding/Transfer Federal Regulation(s) 12 C.F.R. § 1024.33 (Regulation X) • CFPB Comment for 1024.33 12 C.F.R. § 1026.39 (Regulation Z)

Model Forms

Other Resources

Appendix to MS-2 to Part 1024 (Notice of Servicing Transfer)

CFPB Compliance Bulletin • 2020-02 • 2014-01 CFPB Supervisory Highlights • Issue 30, Summer 2023 • Issue 22, Summer 2020 • Issue 11, June 2016

Periodic Statements

Federal Regulation(s)

Model Forms

Other Resources

12 C.F.R. § 1026.7 (Open-End Credit) - Regulation Z 12 C.F.R. § 1026.41 - Regulation Z

Appendix H to Part 1026 – Close-End Model Forms and Clauses (Reference: H-30) Appendix G to Part 1026 – Open-End Model Forms and Clauses (Reference: G-18)

CFPB Supervisory Highlights • Issue 33, Spring 2024 • Issue 29, Winter 2023 • Issue 22, Summer 2020 • Issue 15, Spring 2017 • Issue 8, Summer 2015

Payment Processing

Federal Regulation(s)

Model Forms

Other Resources

12 C.F.R. 1026.36 (Regulation Z)

There are no model forms for a payment history. Most servicers provide payment histories in a ledger-style format with columns for: • Date • Payment received • Amount applied to Principal, Interest, Escrow, and Fees • Late charges • Fees • Escrow disbursements • Running balance

CFPB Supervisory Highlights • Issue 33, Spring 2024 • Issue 29, Winter 2023 • Issue 28, Fall 2022 • Issue 25, Fall 2021 • Issue 18, Winter 2019 • Issue 17, Summer 2018

ACCREDITATION & WORKFORCE DEVELOPMENT