12 CFR §1024.39 — Early intervention requirements for certain borrowers
Regulation X §1024.39 requires servicers to make live contact with delinquent borrowers by the 36th day of delinquency and to provide a written early-intervention notice no later than the 45th day; it also sets partial exemptions for borrowers in bankruptcy and borrowers who have invoked FDCPA §805(c) cease-communication.
Verbatim regulatory text
Verbatim provisions from 12 CFR §1024.39 — Early intervention requirements for certain borrowers — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1024.39(a) — Live contact (36-day rule)
(a) Live contact. Except as otherwise provided in this section, a servicer shall establish or make good faith efforts to establish live contact with a delinquent borrower no later than the 36th day of a borrower's delinquency and again no later than 36 days after each payment due date so long as the borrower remains delinquent. Promptly after establishing live contact with a borrower, the servicer shall inform the borrower about the availability of loss mitigation options, if appropriate.
12 CFR §1024.39(b)(1) — Written notice required (45-day rule)
(b) Written notice —(1) Notice required. Except as otherwise provided in this section, a servicer shall provide to a delinquent borrower a written notice with the information set forth in paragraph (b)(2) of this section no later than the 45th day of the borrower's delinquency and again no later than 45 days after each payment due date so long as the borrower remains delinquent. A servicer is not required to provide the written notice, however, more than once during any 180-day period. If a borrower is 45 days or more delinquent at the end of any 180-day period after the servicer has provided the written notice, a servicer must provide the written notice again no later than 180 days after the provision of the prior written notice. If a borrower is less than 45 days delinquent at the end of any 180-day period after the servicer has provided the written notice, a servicer must provide the written notice again no later than 45 days after the payment due date for which the borrower remains delinquent.
12 CFR §1024.39(b)(2) — Content of the written notice
(2) Content of the written notice. The notice required by paragraph (b)(1) of this section shall include:
12 CFR §1024.39(c)(1) — Borrowers in bankruptcy partial exemption
(c) Borrowers in bankruptcy —(1) Partial exemption. While any borrower on a mortgage loan is a debtor in bankruptcy under title 11 of the United States Code, a servicer , with regard to that mortgage loan:
12 CFR §1024.39(c)(2) — Resuming compliance after bankruptcy
(2) Resuming compliance.
12 CFR §1024.39(d) — FDCPA partial exemption
(d) Fair Debt Collection Practices Act — partial exemption. With regard to a mortgage loan for which any borrower has provided a notification pursuant to the Fair Debt Collection Practices Act (FDCPA) section 805(c) ( 15 U.S.C. 1692c(c) ), a servicer subject to the FDCPA with respect to that borrower's loan:
12 CFR §1024.39(b)(2) — Content of the written notice — enumerated items (chapeau recall fix)
(i) A statement encouraging the borrower to contact the servicer ; (ii) The telephone number to access servicer personnel assigned pursuant to § 1024.40(a) and the servicer 's mailing address; (iii) If applicable, a statement providing a brief description of examples of loss mitigation options that may be available from the servicer ; (iv) If applicable, either application instructions or a statement informing the borrower how to obtain more information about loss mitigation options from the servicer ; and (v) The Web site to access either the Bureau list or the HUD list of homeownership counselors or counseling organizations, and the HUD toll-free telephone number to access homeownership counselors or counseling organizations.
12 CFR §1024.39(c)(1) — Borrowers in bankruptcy partial exemption — enumerated items (chapeau recall fix)
(i) Is exempt from the requirements of paragraph (a) of this section; (ii) Is exempt from the requirements of paragraph (b) of this section if no loss mitigation option is available, or if any borrower on the mortgage loan has provided a notification pursuant to the Fair Debt Collection Practices Act (FDCPA) section 805(c) ( 15 U.S.C. 1692c(c) ) with respect to that mortgage loan as referenced in paragraph (d) of this section; and (iii) If the conditions of paragraph (c)(1)(ii) of this section are not met, must comply with the requirements of paragraph (b) of this section, as modified by this paragraph (c)(1)(iii): (A) If a borrower is delinquent when the borrower becomes a debtor in bankruptcy, a servicer must provide the written notice required by paragraph (b) of this section not later than the 45th day after the borrower files a bankruptcy petition under title 11 of the United States Code. If the borrower is not delinquent when the borrower files a bankruptcy petition, but subsequently becomes delinquent while a debtor in bankruptcy, the servicer must provide the written notice not later than the 45th day of the borrower's delinquency . A servicer must comply with these timing requirements regardless of whether the servicer provided the written notice in the preceding 180-day period. (B) The written notice required by paragraph (b) of this section may not contain a request for payment. (C) A servicer is not required to provide the written notice required by paragraph (b) of this section more than once during a single bankruptcy case.
12 CFR §1024.39(d) — FDCPA partial exemption — enumerated items (chapeau recall fix)
(1) Is exempt from the requirements of paragraph