CFPB Issues Interim Final Rule Amending Time Requirement For Servicers To Send Subsequent Early Intervention Notices

On October 4, the Consumer Financial Protection Bureau issued an interim final rule which will amend a portion of the 2016 Mortgage Servicing Final Rule for Regulation X of the Real Estate Settlement Procedures Act. Specifically, the interim rule will amend the amount of time mortgage servicers have under amended § 1024.39(d)(3)(iii) to "provide modified written early intervention notices to borrowers who have invoked their cease communication rights under the [Fair Debt Collection Practices Act]." See CFPB, Amendments to the 2016 Amendments to the 2013 Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z), Oct. 2, 2017, at 5.