CFPB Mortgage Servicing Standards: New CFPB mortgage rules - Focusing on the customer experience

January 2014


At a glance

This edition discusses possible impacts on the customer experience as a result of the new rules and strategies that companies may wish to consider to mitigate them.

When implementing the new mortgage standards, don't forget the customer

The mortgage industry has been hard at work preparing for the CFPB’s January 2014 effective date for the new mortgage origination and servicing rules. These rules were developed to protect and benefit consumers, and mortgage lenders have invested significant time and money to comply with them. But one important question remains: has your company considered how these new rules will really impact your customers?

This edition of the CFPB Mortgage Servicing Standards discusses how the new rules have the potential to shape your customers' experience with your organization and some simple steps you could consider taking now to help you deliver the level of customer experience necessary to mitigate potential adverse impacts on your customer experience strategy.