MORTGAGE SERVICING RULES: Coverage
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Regulation X (12 CFR 1024)
Closed-
End,
Principal
Residence
Closed-
End, Non-
Principal
Residence
Open-End
Servicers and Loan Types Exempt from
Coverage
Error Resolution and Information
Requests (.35 and .36)
X X
Force-Placed Insurance (.37) X X
Small Servicer
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must comply with requirements of
1024.37 but, per 1024.17(k)(5)(iii), is permitted to
purchase force-placed insurance if less expensive
than escrow payment for borrower’s hazard
insurance.
Policies, Procedures, and Requirements
(.38)
X X
Small Servicer, Reverse Mortgages, Qualified
Lender
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Early Intervention (.39) X
Small Servicer, Reverse Mortgages, Qualified
Lender
Continuity of Contact (.40) X
Small Servicer, Reverse Mortgages, Qualified
Lender
Loss Mitigation Procedures (.41) X
Small Servicers (except, per 1024.41(j), small
servicers may not file for foreclosure if borrower is
performing pursuant to a loss mitigation agreement
OR is 120 or fewer days delinquent), Reverse
Mortgages, Qualified Lender
Mortgage Servicing Transfers (.33) X X
Certain Transfers:
between affiliates; resulting from
servicer/subservicer mergers or acquisitions; OR
between master servicers without changing
subservicer.
Servicing Disclosure Statement required for first lien
only.
Escrow Accounts (.17 and .34) X X
X
(.17 only)
Small servicer is permitted to purchase force-
placed
insurance if less
expensive than escrow payment for
borrower’s hazard insurance, per 1024.17(k)(5)(iii).
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Regulation Z (12 CFR 1026)
Closed-
End,
Principal
Residence
Closed-
End, Non-
Principal
Residence
Open-
End
Servicers and Loan Types Exempt from Coverage
Periodic Statement (.41) X X
Small Servicer, Reverse Mortgages, and
Timeshares. Fixed-Rate Loans with Coupon Books
exempt from some requirements.
ARM Disclosures (.20(c) and (d)) X ARM with term of 1 year or less
Prompt Crediting (.36) X
X
(principal
dwelling
only)
Payoff Statement (.36) X X X
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This chart 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 http://www.consumerfinance.gov/regulations/2013-real-estate-settlement-procedures-act-regulation-x-
and-truth-in-lending-act-regulation-z-mortgage-servicing-final-rules/.
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Small Servicer (1026.41(e)(4)(ii)): Servicer or affiliate services 5,000 or fewer mortgage loans and the servicer or affiliate
owns or originated all 5,000 loans OR the servicer is a Housing Finance Agency per 24 CFR 226.5.
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Qualified Lender per 12 CFR 617.7000.
June 7, 2013
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MORTGAGE SERVICING RULES: Coverage
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