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Loan servicing and successors in interest

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Question: 
How are the servicing rules changing with regard to successors in interest?
Answer: 

There are three changes relating to successors in interest that will be effective April 19, 2018. First, definitions of “successor in interest” have been adopted. Second, rules are being added concerning how a servicer will confirm a successor in interest’s identity and ownership interest. And third, the servicing rules of Regulations X and Z will be applied to confirmed successors in interest.

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Learn more about John Burnett’s webinar
The New Servicing Rules – Are You Ready?

First published on 08/13/2017

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