Federal Report or Study

This chart summarizes the mortgage servicing rules in effect as of April 19, 2018 and is not a substitute for the rules. Only the rules and the Official Interpretations can provide complete and definitive information regarding their requirements. The complete rules, including the Official Interpretations and small entity compliance guide, are available at www.consumerfinance.gov/policy-compliance/guidance/implementation-guidance/mortserv.

The March 10, 2015 Presidential Memorandum, “A Student Aid Bill of Rights to Help Ensure Affordable Loan Repayment” (Presidential Memorandum), directed an interagency task force (Task Force) consisting of the Department of the Treasury, Department of Education, Office of Management and Budget, and Domestic Policy Council to monitor trends in the student loan portfolio, budget costs, and borrower assistance efforts.

This is a 1980 report that HUD commissioned to advise Congress concerning RESPA. The report seeks to determine how well the settlement process is working and specifically how individual settlement service markets are performing to provide required services at a reasonable cost. It also seeks to evaluate the effectiveness of RESPA in achieving its objectives: better informing the consumer; increasing the incidence of shopping; and ultimately lowering settlement costs when they are excessive.

In an effort to understand the consumers’ perspective on the debt collection process, related to the CFPB’s Regulation F rulemaking, Fors Marsh Group (FMG) conducted five focus groups with two consumer groups; individuals with no debt collection experience and individuals who had been contacted by a debt collector attempting to recover a debt within the previous two years (henceforth referred to as “debt collection experience”). 

The CFPB worked with Fors Marsh Group (FMG) to develop a model validation notice for Regulation F intended to clearly communicate key information about the debt and about how consumers can respond to the notice. To assess how different content, wording, and formatting could influence consumer perception and behavior, FMG conducted interviews with consumers as they reviewed a series of model validation notices. FMG conducted 30 one-on-one interviews with consumers.

The CFPB worked with Fors Marsh Group (FMG) to develop a model validation notice for Regulation F intended to clearly communicate key information about the debt and about how consumers can respond to the notice. To assess how different content, wording, and formatting could influence consumer perception and behavior, FMG conducted interviews with consumers as they reviewed a series of model validation notices. FMG conducted 30 one-on-one interviews with consumers.