Summary
The rules for missing loss mitigation documents are outlined in the Real Estate Settlement Procedures Act (RESPA) and Regulation X, enforced by the Consumer Financial Protection Bureau (CFPB). In Tennessee, these federal laws apply: Regulation X, 12 CFR § 1024.38(b)(4) and RESPA, 12 U.S.C. § 2605(e). If you believe theres a violation, you can file a complaint with the CFPB. For specific litigation cases, contact a local attorney. The Office of Administrative Hearings in Tennessee handles disputes between state agencies and individuals or businesses. They ensure impartial and independent review of disputes.Full Conversation
Missing loss mitigation documents and information. A transferee servicer must have policies and procedures reasonably designed to ensure, in connection with a servicing transfer, that the transferee servicer receives information regarding any loss mitigation discussions with a borrower, including any copies of loss mitigation agreements. Further, the transferee servicer's policies and procedures must address obtaining any such missing information or documents from a transferor servicer before attempting to obtain such information from a borrower. For example, assume a servicer receives documents or information from a transferor servicer indicating that a borrower has made payments consistent with a trial or permanent loan modification but has not received information about the existence of a trial or permanent loan modification agreement. The servicer must have policies and procedures reasonably designed to identify whether any such loan modification agreement exists with the transferor servicer and to obtain any such agreement from the transferor servicer.
Where are these rules found
Hello Cynthia, these rules are typically outlined in the Real Estate Settlement Procedures Act (RESPA) and implemented by the Consumer Financial Protection Bureau (CFPB) through Regulation X, * CFR § *.*(b)(*). However, the laws can vary based on your location. Can you please provide your location for more specific information?
Tennessee
The rules you mentioned are indeed part of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, enforced by the Consumer Financial Protection Bureau (CFPB).
In Tennessee, these federal laws apply:
- Regulation X, * CFR § *.*(b)(*)
- RESPA, * U.S.C. § *(e)
Please consult a local attorney for detailed guidance.
Do you knoe of any litigation involving New Rez and nt. The servicer must have policies and procedures reasonably designed to identify whether any such loan modification agreement exists with the transferor servicer and to obtain any such agreement from the transferor
As an information provider, I don't have access to specific litigation cases. However, if you believe there's a violation of the rules, you can file a complaint with the CFPB. For specific cases, I recommend contacting a local attorney or law firm specializing in such matters in Tennessee.
What is the office of administrative adjudication
The Office of Administrative Adjudication is a government agency which handles disputes between a government agency and individuals or businesses. Its role is to provide impartial and independent review of these disputes to ensure fairness. The structure and function can vary based on your location. Can you confirm if you're still in Tennessee?
Yes
Great, in Tennessee, the Office of Administrative Hearings handles such disputes. They act as an impartial judge between a state agency and a person/business. They're located at:
Tennessee Office of Administrative Hearings
Phone: (*) *-*
Address: * James Robertson Pkwy, Nashville, TN *
Website: www.tn.gov/workerscomp/boards-commissions/administrative-review-and-adjudication.html
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