CFPB Updates Mortgage Servicing Exam Procedures
On January 18, 2023, the Consumer Financial Protection Bureau (CFPB) released an updated version of its Mortgage Servicing Examination Manual. As the CFPB described in a corresponding blog post, the manual outlines “the types of information that CFPB examiners gather to evaluate mortgage servicers’ policies and procedures; assess whether servicers are complying with applicable laws; and identify risks to consumers related to mortgage servicing.” Therefore, it is an important tool for servicers’ compliance…