Regulation X Redefined: Analyzing the CFPB’s Proposed Loss Mitigation Framework and Language Access Requirements
| Member Price | $0.00 |
| Non-Member Price | $399.00 |
About the Event
After much anticipation, the CFPB released its proposal to amend Regulation X on July 10th. The CFPB’s proposal is effectively a complete overhaul of the current loss mitigation regulatory framework, which has been in place since 2014. However, loss mitigation and default servicing aren’t the only topics within the proposal. The door is also being opened to a new framework for translated disclosures and additional mandatory services for borrowers with limited English proficiency (LEP). If finalized, the proposal will cause significant challenges for mortgage servicers.
Join MBA Education and industry experts for an in depth discussion on the primary components of the proposal, focusing on the most important provisions and the legal & operational challenges associated with the same. Panelists will outline the feedback the CFPB has received from the industry on the proposal (through comment letters or otherwise), while making some predictions on areas within the rule that may be subject to change. Participants will leave with a solid grasp of the proposal, an understanding of the primary challenges, and the tools needed to prepare effectively for the upcoming amendments.
Date/Time
- Thursday, October 3 (1:00 PM - 2:00 PM ET)
Objectives
- Discuss the CFPB’s proposed amendments to Regulation X, focusing on early intervention/live contact, loss mitigation, and language access
- Evaluate the compliance challenges associated with the CFPB’s proposed amendments to Regulation X
- Analyze areas within the proposed rule where the industry is seeking clarity or further refinements
- Address the areas within the proposed rule where the CFPB may be willing to make some changes
- Outline ways in which a mortgage servicing company can/should prepare for the upcoming amendments
Experience Level
- Entry-Level
- Intermediate
Target Audience
- Legal Practitioners
- Compliance Professionals
- Mortgage Servicing Staff
Speaker(s)
- Jason R. Bushby, Partner, Bradley
- Jonathan R. Kolodziej, Partner, Bradley