USFN, a national not-for-profit association of select law firms, trustee companies and affiliated businesses providing comprehensive default services to the mortgage banking industry, recently published its Successor in Interest Reference Guide.
The guide, which comes in a digital format, outlines the specific steps to identify and verify a successor in interest, including the documents needed and their location, as well as other details that will increase the ability to seamlessly maintain compliance, on a state-by-state basis – which is key since requirements vary state by state.
The digital format will allow for real-time updates and is meant to assist with navigating the Consumer Financial Protection Bureau’s newly implemented regulations, USFN says in a release.
“As an organization on which many rely to provide accurate and complete resources for remaining compliant with new rules and regulations, we are excited to unveil this new digital reference guide to servicers and lenders,” says Pamela Donahoo, CEO of USFN. “Our member firms diligently worked together throughout the last year to develop an affordable publication that will assist in complying with these new regulations.”
To access the guide, click here.