(a) Information
request. A servicer shall comply with the requirements of this
section for any written request for information from a borrower that
includes the name of the borrower, information that enables the servicer
to identify the borrower’s mortgage loan account, and states the information
the borrower is requesting with respect to the borrower’s mortgage
loan. A request on a payment coupon or other payment form supplied
by the servicer need not be treated by the servicer as a request for
information. A request for a payoff balance need not be treated by
the servicer as a request for information. A qualified written request
that requests information relating to the servicing of the mortgage
loan is a request for information for purposes of this section, and
a servicer must comply with all requirements applicable to a request
for information with respect to such qualified written request.
(b) Contact information for borrowers
to request information. A servicer may, by written notice provided
to a borrower, establish an address that a borrower must use to request
information in accordance with the procedures in this section. The
notice shall include a statement that the borrower must use the established
address to request information. If a servicer designates a specific
address for receiving information requests, a servicer shall designate
the same address for receiving notices of error pursuant to section
1024.35(c). A servicer shall provide a written notice to a borrower
before any change in the address used for receiving an information
request. A servicer that designates an address for receipt of information
requests must post the designated address on any Web site maintained
by the servicer if the Web site lists any contact address for the
servicer.
(c) Acknowledgment of receipt. Within five days (excluding legal public holidays, Saturdays, and
Sundays) of a servicer receiving an information request from a borrower,
the servicer shall provide to the borrower a written response acknowledging
receipt of the information request.
(d) Response to information request.
(1) Investigation
and response requirements. Except as provided in paragraphs (e)
and (f) of this section, a servicer must respond to an information
request by either:
(i) Providing the borrower with the requested information and contact
information, including a telephone number, for further assistance
in writing; or
(ii) Conducting
a reasonable search for the requested information and providing the
borrower with a written notification that states that the servicer
has determined that the requested information is not available to
the servicer, provides the basis for the servicer’s determination,
and provides contact information, including a telephone number, for
further assistance.
(2) Time limits.
(i) In
general. A servicer must comply with the requirements of paragraph
(d)(1) of this section:
(A) Not later than 10 days (excluding legal public holidays, Saturdays,
and Sundays) after the servicer receives an information request for
the identity of, and address or other relevant contact information
for, the owner or assignee of a mortgage loan; and
(B) For all other requests for information,
not later than 30 days (excluding legal public holidays, Saturdays,
and Sundays) after the servicer receives the information request.
(ii) Extension of time limit. For requests for
information governed by the time limit set forth in paragraph (d)(2)(i)(B)
of this section, a servicer may extend the time period for responding
by an additional 15 days (excluding legal public holidays, Saturdays,
and Sundays) if, before the end of the 30-day period, the servicer
notifies the borrower of the extension and the reasons for the extension
in writing. A servicer may not extend the time period for requests
for information governed by paragraph (d)(2)(i)(A) of this section.
(3) Omissions in responses to requests. In
its response to a request for information, a servicer may omit location
and contact information and personal financial information (other
than information about the terms, status, and payment history of the
mortgage loan) if:
(i) The information pertains to a potential or confirmed successor
in interest who is not the requester; or
(ii) The requester is a confirmed successor
and the information pertains to any borrower who is not the requester.
(e) Alternative
compliance. A servicer is not required to comply with paragraphs
(c) and (d) of this section if the servicer provides the borrower
with the information requested and contact information, including
a telephone number, for further assistance in writing within five
days (excluding legal public holidays, Saturdays, and Sundays) of
receiving an information request.
(f) Requirements not applicable.
(1) In general. A servicer is not required to comply with the requirements of paragraphs
(c) and (d) of this section if the servicer reasonably determines
that any of the following apply:
(i) Duplicative
information. The information requested is substantially the same
as information previously requested by the borrower for which the
servicer has previously complied with its obligation to respond pursuant
to paragraphs (c) and (d) of this section.
(ii) Confidential,
proprietary or privileged information. The information requested
is confidential, proprietary or privileged.
(iii) Irrelevant
information. The information requested is not directly related
to the borrower’s mortgage loan account.
(iv) Overbroad
or unduly burdensome information request. The information request
is overbroad or unduly burdensome. An information request is overbroad
if a borrower requests that the servicer provide an unreasonable volume
of documents or information to a borrower. An information request
is unduly burdensome if a diligent servicer could not respond to the
information request without either exceeding the maximum time limit
permitted by paragraph (d)(2) of this section or incurring costs (or
dedicating resources) that would be unreasonable in light of the circumstances.
To the extent a servicer can reasonably identify a valid information
request in a submission that is otherwise overbroad or unduly burdensome,
the servicer shall comply with the requirements of paragraphs (c)
and (d) of this section with respect to that requested information.
(v) Untimely
information request. The information request is delivered to
a servicer more than one year after:
(A) Servicing for the mortgage loan that is
the subject of the information request was transferred from the servicer
receiving the request for information to a transferee servicer; or
(B) The mortgage loan is discharged.
(2) Notice to borrower. If a servicer determines
that, pursuant to this paragraph (f), the servicer is not required
to comply with the requirements of paragraphs (c) and (d) of this
section, the servicer shall notify the borrower of its determination
in writing not later than five days (excluding legal public holidays,
Saturdays, and Sundays) after making such determination. The notice
to the borrower shall set forth the basis under paragraph (f)(1) of
this section upon which the servicer has made such determination.
(g) Payment requirement limitations.
(1) Fees prohibited. Except as set forth in
paragraph (g)(2) of this section, a servicer shall not charge a fee,
or require a borrower to make any payment that may be owed on a borrower’s
account, as a condition of responding to an information request.
(2) Fee
permitted. Nothing in this section shall prohibit a servicer
from charging a fee for providing a beneficiary notice under applicable
State law, if such a fee is not otherwise prohibited by applicable
law.
(h) Servicer remedies. Nothing in this section shall prohibit a servicer from furnishing
adverse information to any consumer reporting agency or pursuing any
of its remedies, including initiating foreclosure or proceeding with
a foreclosure sale, allowed by the underlying mortgage loan instruments,
during the time period that response to an information request notice
is outstanding.
(i) Potential successors
in interest.
(1)
With respect to any written request from a person that indicates that
the person may be a successor in interest and that includes the name
of the transferor borrower from whom the person received an ownership
interest and information that enables the servicer to identify the
mortgage loan account, a servicer shall respond by providing the potential
successor in interest with a written description of the documents
the servicer reasonably requires to confirm the person’s identity
and ownership interest in the property and contact information, including
a telephone number, for further assistance. With respect to the written
request, a servicer shall treat the potential successor in interest
as a borrower for purposes of the requirements of paragraphs (c) through
(g) of this section.
(2) If a written
request under paragraph (i)(1) of this section does not provide sufficient
information to enable the servicer to identify the documents the servicer
reasonably requires to confirm the person’s identity and ownership
interest in the property, the servicer may provide a response that
includes examples of documents typically accepted to establish identity
and ownership interest in a property; indicates that the person may
obtain a more individualized description of required documents by
providing additional information; specifies what additional information
is required to enable the servicer to identify the required documents;
and provides contact information, including a telephone number, for
further assistance. A servicer’s response under this paragraph
(i)(2) must otherwise comply with the requirements of paragraph (i)(1).
Notwithstanding paragraph (f)(1)(i) of this section, if a potential
successor in interest subsequently provides orally or in writing the
required information specified by the servicer pursuant to this paragraph
(i)(2), the servicer must treat the new information, together with
the original request, as a new, non-duplicative request under paragraph
(i)(1), received as of the date the required information was received,
and must respond accordingly.
(3)
In responding to a request under paragraph (i)(1) of this section
prior to confirmation, the servicer is not required to provide any
information other than the information specified in paragraphs (i)(1)
and (2) of this section. In responding to a written request under
paragraph (i)(1) that requests other information, the servicer must
indicate that the potential successor in interest may resubmit any
request for information once confirmed as a successor in interest.
(4) If a servicer has established
an address that a borrower must use to request information pursuant
to paragraph (b) of this section, a servicer must comply with the
requirements of paragraph (i)(1) of this section only for requests
received at the established address.
