Servicer Transfer60-Day Rescission Payment Suspension Rule
Bounded offline reference: US mortgage servicing-transfer rules include specified protection concerning certain timely payments sent to the prior servicer during 60 days after transfer. Source: 12CFR1024.33(c). Not rescission, blanket payment suspension or forgiveness; applicability and payment routing require verified current guidance. Supported topic keys: summary, reference, limitations. No complete external corpus or live policy implied.
Description
Mortgage servicing-transfer payment protection concerns qualifying payments sent to the former servicer.
Mortgage servicing-transfer payment protection concerns qualifying payments sent to the former servicer.1
It does not create rescission, blanket payment suspension or debt forgiveness. Use Servicer Transfer60-Day Rescission Payment Suspension Rule to read a supported reference-card topic.
When to use Servicer Transfer60-Day Rescission Payment Suspension Rule
Use Servicer Transfer60-Day Rescission Payment Suspension Rule to read a supported reference-card topic. Choose an exact supported token from the table, preserving punctuation and capitalization.
How to use Servicer Transfer60-Day Rescission Payment Suspension Rule and understand its results
- Choose an exact supported token from the table, preserving punctuation and capitalization.
- Enter Topic using the field table and validation rules below, then run the tool.
- Read Text in the Result object; interpret the units, signs, ordering and unknown-value placeholders described below.
- Read the limitations topic as well as the summary; use the reference topic to locate the underlying source. Correct unsupported tokens before rerunning.
| Input field | Meaning | Value type | Requirement |
|---|---|---|---|
| topic | Topic | string | Required; constraints below |
Enter one of the exact supported topic tokens listed below. The implementation performs a case-sensitive own-key lookup and returns the stored text unchanged. It does not fetch the cited books, search a corpus or inspect current policy. Unsupported tokens and added whitespace are input errors. Reference entries are bibliographic pointers rather than retrieved source passages; read the limitations alongside the summary. This bounded card is not a complete reference database.
returned text = storedTable[exactSupportedToken] Use the field order, units and branch conditions described above.
| Exact supported token | Stored reference text |
|---|---|
| summary | US mortgage servicing-transfer rules include specified protection concerning certain timely payments sent to the prior servicer during 60 days after transfer. |
| reference | 12CFR1024.33(c). |
| limitations | Not rescission, blanket payment suspension or forgiveness; applicability and payment routing require verified current guidance. |
| Output field | Meaning | Value type |
|---|---|---|
| result | Object containing the named result fields below. | object |
| result.text | Stored text for the exact supported token; read summary, reference and limitations together. | string |
{
"input": {
"topic": "summary"
},
"output": {
"result": {
"text": "US mortgage servicing-transfer rules include specified protection concerning certain timely payments sent to the prior servicer during 60 days after transfer."
}
}
}Limitations and assumptions
For 60 days following transfer, the cited rule protects specified timely payments received by the former servicer against late treatment and fees. The title’s rescission and suspension wording is misleading: the tool’s stored text explains limited payment protection, not cancellation or a payment holiday.2
It does not create rescission, blanket payment suspension or debt forgiveness. Apply the exact scope and assumptions explained above.
All listed fields require explicit values. Unexpected fields, incorrect types, nonfinite numbers and sparse arrays fail validation. Domain-specific bounds, alignments and supported tokens are explained above; extremely large inputs or outputs can also be rejected. Input errors differ from successful false results, empty match lists and unknown-evidence placeholders.
Alternative or Complementary methods
Use TRID Three Day Rule Lookup for a related task: Mortgage disclosure timing depends on the applicable disclosure, transaction and day-counting rule.
Use Stated Income Liar Loans Post 2008 Ability to Repay Verdict Context for a related task: Ability-to-repay requirements depend on transaction coverage and exceptions.
References
-
Servicer Transfer60-Day Rescission Payment Suspension Rule — tool.io
-
Regulation X § 1024.33: mortgage servicing transfers — Consumer Financial Protection Bureau
Similar or alternative tools
- TRID Three Day Rule Lookup
Mortgage disclosure timing depends on the applicable disclosure, transaction and day-counting rule.
- Stated Income Liar Loans Post 2008 Ability to Repay Verdict Context
Ability-to-repay requirements depend on transaction coverage and exceptions.