My auditors explained to me that I did not make mention of the qualified written requests (QWR) requirements anywhere on my RESPA policy. So, after reading the 2013 RESPA and TILA Mortgage Servicing Final Rules by the CFPB and talking with my auditors, it seems that in order for me to meet the requirments that I need to mention in the policy:
1. That we will accept error notices at (address) AND
2. That we will promptly respond to written notifications of alleged errors related to the servicing of closed-end mortgage loans subject to RESPA and list the time frames:
(a) Within 5 days, acknowledge the request.
(b) Within 30 to 45 days, correct the error and provide the consumer written notification of the correction, or conduct an investigation and provide the consumer written notification that no error occurred.
(c) Within 30 to 45 days, provide the information or conduct a reasonable search for the requested information and provide the consumer with a written notification explaining why the information is not available.
That's what I think I need to do to my policy for a small servicer. Can anyone help me by telling me if I am on the right track?
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Chiquita pero picosa.