Contents
- (a) Disclosure to applicant relating to assignment, sale, or transfer of loan servicing2 changes
- (b) Notice by transferor of loan servicing at time of transfer
- (c) Notice by transferee of loan servicing at time of transfer
- (d) Treatment of loan payments during transfer period
- (e) Duty of loan servicer to respond to borrower inquiries3 changes
- (f) Damages and costs2 changes
- (g) Administration of escrow accounts1 change
- (h) Preemption of conflicting State laws
- (i) Definitions
- (j) Transition2 changes
- (k) Servicer prohibitions
- (l) Requirements for force-placed insurance
- (m) Limitations on force-placed insurance charges
(j)
(1)A person who makes a federally related mortgage loan shall not be liable to a borrower because of a failure of such person to comply with subsection (a) with respect to an application for a loan made by the borrower before the regulations referred to in paragraph (3) take effect.
(2)A servicer of a federally related mortgage loan shall not be liable to a borrower because of a failure of the servicer to perform any duty under subsection (b), (c), (d), or (e) that arises before the regulations referred to in paragraph (3) take effect.
(3)The Bureau shall establish any requirements necessary to carry out this section. Such regulations shall include the model disclosure statement required under subsection (a)(2).
United States Government work; public domain under 17 U.S.C. § 105.