On October 29, 2021, the CFPB added a new section to the Reg F Frequently Asked Questions (FAQ) guidance documents. The new FAQs address the model validation notice, validation information, and the special rule for certain residential mortgage debts.
The CFPB also released a document entitled, “Debt Collection Rule: Disclosing the Model Validation Notice Itemization Table.” This guidance document reviews the required validation information and provides illustrations to show how a debt collector might comply with the requirement to disclose that information.
This guidance follows the FAQs published by the CFPB on October 5, 2021, and the release of the Spanish translation model validation notice on October 18, 2021.
Behind on Reg F implementation? Join us on November 2, 2021 for "Reg (WT)F: An Extremely Practical Guide to Last Minute Reg F Prep" where we'll be discussing the practical guidance you need to implement Reg F. This will not be a standard webinar where people talk at you; the majority of this webinar will be Q&A to help you implement Reg F in just a few weeks.