Buckley Webcast: NYDFS mortgage servicing rules: Untangling federal and state servicing requirements
The New York Department of Financial Services late last year quietly published comprehensive mortgage servicing rules that went into immediate effect. These rules, which servicers must comply with by March 17, hit virtually every aspect of mortgage servicing and differ from federal mortgage servicing rules in important ways. Michelle Rogers, Jon Langlois, Josh Kotin, and Kris Knabe discussed the new NYDFS servicing rules, and in particular, the complexities of reconciling these federal and state requirements.
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