The Consumer Financial Protection Bureau (CFPB) last week released proposed rules for RMBS servicers. If these were implemented, they would set consistent standards for all residential mortgage servicers, Fitch Ratings said in a note released today.
On Aug. 10, the CFPB released two notices of proposed rulemaking (NPR). These new rules will include all the provisions required by the Dodd-Frank Act, the Truth in Lending Act, and the Real Estate Settlement Procedures Act. They are set to be finalized by January 2013.