The Bureau is publishing its August 6 final rule amending the 2013 Mortgage Servicing Rule tomorrow, October 19. The effective date for most of the rule will be October 19, 2017, but several sections won't be effective for another 6 months, on April 19. 2018.

We are working on getting the amendments annotated in Regulation X and Regulation Z. It's a 900-page (PDF) document, so it will take some time. But, hey, y'all have a year, right?

Link to Federal Register publication: 81 FR 71260 -- https://www.federalregister.gov/d/2016-18901

Link to Interpretation of application of FDCPA to servicing rules: 81 FR 71977 -- https://www.federalregister.gov/d/2016-18902

I'm on page 275 right now and about to lose my mind. There are 89 pages just covering section 1024.39.
It's just an early intervention notice guys....we're not trying to land someone on the moon.

I'm just glad we will have something to keep us busy next year since the HMDA update shouldn't be much of a regulatory burden.

On a serious note:

Since we also have the new interpretive rule on the FDCPA I would like to confirm something.

When a Bank A mergers or acquires Bank B will Bank A be subject to the FDCPA for all of Bank B's loans that were delinquent at the time of acquisition? I am thinking Yes, but I am currently reviewing the rule again to see if there is a carve out for mergers/acquisitions.

link please?

happy -- See today's Top Stories. I will also update my post at the start of this topic to add a link.

oops should have checked there first...thank you