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#1884641 - 01/09/14 05:48 PM Model ARM Notice
complygirl Offline
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Joined: Oct 2004
Posts: 822
midwest
New rules refer to model ARM notices, can someone provide a link to that notice or a regulatory citation on where that can be found? Wanting to verify content and format of our notices.

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Mortgage Servicing Rules
#1884659 - 01/09/14 06:18 PM Re: Model ARM Notice complygirl
GTS333 Offline
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Joined: Jun 2010
Posts: 256
Wow. Okay, the regulation that controls the content is 12 CFR 1026.20(d) and 1026.20(c). Effective date for changes to the ARM notices is tomorrow 1/10/2014. Many of the posts in this forum are specific to the ARM changes, so look around to learn more.

You will also want to look at the model and sample forms provided by the CFPB for H-4(D)(1) through (D)(4). However, just copying the samples will not ensure compliance. There are also new timing requirements.

Good luck!
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My opinion, take it for what its worth. Opinions expressed are my own and not those of my employer and are not legal advice.

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#1884831 - 01/09/14 08:39 PM Re: Model ARM Notice GTS333
complygirl Offline
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Joined: Oct 2004
Posts: 822
midwest
Yes, I am well aware the requirements go into affect tomorrow and also know there are timing requirement change associated with these notices as well. Our core processor generates our notices for us and I just want to verify content compared to the model/sample forms. Where specifically on the CFPB website can I find these forms? That is what I'm asking.

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#1884833 - 01/09/14 08:41 PM Re: Model ARM Notice complygirl
GTS333 Offline
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Joined: Jun 2010
Posts: 256
Got it, everything you want to know about the RESPA-TILA servicing rules can be found here: http://www.consumerfinance.gov/regulatio...ng-final-rules/

If you want to jump right to the samples, they are included at the end of the regulation part here: http://files.consumerfinance.gov/f/201301_cfpb_final-rule_servicing-tila-amendments.pdf
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My opinion, take it for what its worth. Opinions expressed are my own and not those of my employer and are not legal advice.

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#1884851 - 01/09/14 09:18 PM Re: Model ARM Notice GTS333
complygirl Offline
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Joined: Oct 2004
Posts: 822
midwest
Thanks GTS333, the second link you provided had just the information I was looking for!

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#1884864 - 01/09/14 09:40 PM Re: Model ARM Notice complygirl
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,958
Galveston, TX
Everything from the regulations can be obtained from clicking on "Read a Reg" at the top of this page also. A little easier than plowing through the Fed. Reg. release.
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#1884910 - 01/09/14 10:45 PM Re: Model ARM Notice rlcarey
Marnie Offline
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Joined: Nov 2007
Posts: 437
Nevada
"Top" of what page, Randy?

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#1884921 - 01/09/14 11:04 PM Re: Model ARM Notice complygirl
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,958
Galveston, TX
The top of the page you are looking at right now

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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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