Yesterday, the Consumer Financial Protection Bureau (CFPB)
proposed additional amendments to Regulation X, which implements
the Real Estate Settlement Procedures Act (RESPA), and Regulation
Z, which implements the Truth in Lending Act (TILA). After
implementing extensive amendments to both Regulations in January
2014, the CFPB identified further issues after engaging in
"ongoing outreach and monitoring with consumer advocacy
groups, industry representatives, housing counselors and other
stakeholders." According to CFPB Director Richard Cordray, the
CFPB's proposed amendments are designed to "give greater
protections to mortgage borrowers" and ensure that
"homeowners and struggling borrowers are treated fairly by
mortgage servicers and that no one is wrongly foreclosed
upon." The proposed amendments, which cover nine major topics,
will be open for public comment for a period of 90 days starting on
the date they are published in the Federal Register. Although
