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#2240290 - 07/28/20 08:51 PM Notice of Error
Comply Central Offline
Member
Joined: Aug 2018
Posts: 59
As a small servicer, are we required to provide borrowers a written notice of address and procedures for submitting written error resolution notices and information requests?

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Mortgage Servicing Rules
#2240309 - 07/29/20 02:23 PM Re: Notice of Error Comply Central
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 77,003
Galveston, TX
If you are a small servicer, then you would be exempt from 1024.35, if that is what you are asking.
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#2240314 - 07/29/20 03:05 PM Re: Notice of Error Comply Central
Diane Dean Offline
Member
Joined: Oct 2012
Posts: 90
You don't need to specify an address or give instructions on how to submit an error or request information, but if you don't, you need to be prepared to accept errors and/or requests at all locations.
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Diane Dean
http://www.bankerscompliance.com

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#2243231 - 09/29/20 12:22 AM Re: Notice of Error Comply Central
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 527
Midwest
Is there a model notice for a notice of error or request for information under RESPA?

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#2243508 - 10/02/20 02:16 PM Re: Notice of Error Comply Central
Diane Dean Offline
Member
Joined: Oct 2012
Posts: 90
There is no model for what the borrower has to give you (or your responses back). Essentially, any written notice from the borrower that claims the possibility of an error or requests information and includes the borrower's name, allows you to identify the loan, as well as the error or the information requested will trigger the requirements. Notices on payment coupons technically won't trigger the requirements.
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Diane Dean
http://www.bankerscompliance.com

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