source:
  type: regulation
  id: reg-x-1024.40
  authority: 12 CFR §1024.40 — Continuity of contact
  description: 'Regulation X §1024.40 requires servicers to maintain policies and

    procedures reasonably designed to assign personnel to delinquent

    borrowers, make those personnel available to respond to inquiries and

    assist with loss mitigation, and ensure those personnel can perform

    enumerated information-delivery and record-retrieval functions.

    '
obligations:
- id: reg-x-1024.40-a
  canonical_id: reg-x-1024.40-a
  section: 12 CFR §1024.40(a)
  description: '(a): (a) In general. A servicer shall maintain policies and procedures that are reasonably
    designed to achieve the following objectives: (1) Assign personnel to a delinquent borrower by the
    time the servicer provides the borrower with the written notice required by § 1024.39(b) , but in
    any event, not la…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §1024.40(a)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.40
    snapshot_id: cde74e9b810c3590
    fetched_at: '2026-05-22T11:32:19Z'
    content_hash: sha256:18932c262bb2293ae80890711b5a637e9c454c86af1be690941d2d63246fc0a1
    paragraph_quote: '(a) In general. A servicer shall maintain policies and procedures that are reasonably
      designed to achieve the following objectives: (1) Assign personnel to a delinquent borrower by the
      time the servicer provides the borrower with the written notice required by § 1024.39(b) , but in
      any event, not later than the 45th day of the borrower''s delinquency . (2) Make available to a
      delinquent borrower, via telephone, personnel assigned to the borrower as described in paragraph
      (a)(1) of this section to respond to the borrower''s inquiries, and as applicable, assist the borrower
      with available loss mitigation options until the borrower has made, without incurring a late charge,
      two consecutive mortgage payments in accordance with the terms of a permanent loss mitigation agreement.
      (3) If a borrower contacts the personnel assigned to the borrower as described in paragraph (a)(1)
      of this section and does not immediately receive a live response from such personnel, ensure that
      the servicer can provide a live response in a timely manner.'
    drafter_attestation: Verbatim subsection of 12 CFR §1024.40 from Cornell LII snapshot cde74e9b810c3590;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: reg-x-1024.40-b
  canonical_id: reg-x-1024.40-b
  section: 12 CFR §1024.40(b)
  description: '(b): (b) Functions of servicer personnel. A servicer shall maintain policies and procedures
    reasonably designed to ensure that servicer personnel assigned to a delinquent borrower as described
    in paragraph (a) of this section perform the following functions: (1) Provide the borrower with accurate
    informa…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §1024.40(a)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.40
    snapshot_id: cde74e9b810c3590
    fetched_at: '2026-05-22T11:32:19Z'
    content_hash: sha256:18932c262bb2293ae80890711b5a637e9c454c86af1be690941d2d63246fc0a1
    paragraph_quote: '(b) Functions of servicer personnel. A servicer shall maintain policies and procedures
      reasonably designed to ensure that servicer personnel assigned to a delinquent borrower as described
      in paragraph (a) of this section perform the following functions: (1) Provide the borrower with
      accurate information about:'
    drafter_attestation: Verbatim subsection of 12 CFR §1024.40 from Cornell LII snapshot cde74e9b810c3590;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: reg-x-1024.40-i
  canonical_id: reg-x-1024.40-i
  section: 12 CFR §1024.40(i)
  description: '(i): (i) Loss mitigation options available to the borrower from the owner or assignee
    of the borrower''s mortgage loan ; (ii) Actions the borrower must take to be evaluated for such loss
    mitigation options, including actions the borrower must take to submit a complete loss mitigation
    application , as defi…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §1024.40(a)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.40
    snapshot_id: cde74e9b810c3590
    fetched_at: '2026-05-22T11:32:19Z'
    content_hash: sha256:18932c262bb2293ae80890711b5a637e9c454c86af1be690941d2d63246fc0a1
    paragraph_quote: (i) Loss mitigation options available to the borrower from the owner or assignee
      of the borrower's mortgage loan ; (ii) Actions the borrower must take to be evaluated for such loss
      mitigation options, including actions the borrower must take to submit a complete loss mitigation
      application , as defined in § 1024.41 , and, if applicable, actions the borrower must take to appeal
      the servicer 's determination to deny a borrower's loss mitigation application for any trial or
      permanent loan modification program offered by the servicer ; (iii) The status of any loss mitigation
      application that the borrower has submitted to the servicer ; (iv) The circumstances under which
      the servicer may make a referral to foreclosure; and
    drafter_attestation: Verbatim subsection of 12 CFR §1024.40 from Cornell LII snapshot cde74e9b810c3590;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: reg-x-1024.40-v
  canonical_id: reg-x-1024.40-v
  section: 12 CFR §1024.40(v)
  description: '(v): (v) Applicable loss mitigation deadlines established by an owner or assignee of the
    borrower''s mortgage loan or § 1024.41 . (2) Retrieve, in a timely manner:'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §1024.40(a)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.40
    snapshot_id: cde74e9b810c3590
    fetched_at: '2026-05-22T11:32:19Z'
    content_hash: sha256:18932c262bb2293ae80890711b5a637e9c454c86af1be690941d2d63246fc0a1
    paragraph_quote: '(v) Applicable loss mitigation deadlines established by an owner or assignee of
      the borrower''s mortgage loan or § 1024.41 . (2) Retrieve, in a timely manner:'
    drafter_attestation: Verbatim subsection of 12 CFR §1024.40 from Cornell LII snapshot cde74e9b810c3590;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: reg-x-1024.40-i
  canonical_id: reg-x-1024.40-i
  section: 12 CFR §1024.40(i)
  description: '(i): (i) A complete record of the borrower''s payment history; and (ii) All written information
    the borrower has provided to the servicer , and if applicable, to prior servicers, in connection with
    a loss mitigation application ; (3) Provide the documents and information identified in paragraph
    (b)(2) of …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - cfpb-regulation
  primary_source:
    tier: 1
    authority: 12 CFR §1024.40(a)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.40
    snapshot_id: cde74e9b810c3590
    fetched_at: '2026-05-22T11:32:19Z'
    content_hash: sha256:18932c262bb2293ae80890711b5a637e9c454c86af1be690941d2d63246fc0a1
    paragraph_quote: (i) A complete record of the borrower's payment history; and (ii) All written information
      the borrower has provided to the servicer , and if applicable, to prior servicers, in connection
      with a loss mitigation application ; (3) Provide the documents and information identified in paragraph
      (b)(2) of this section to other persons required to evaluate a borrower for loss mitigation options
      made available by the servicer , if applicable; and (4) Provide a delinquent borrower with information
      about the procedures for submitting a notice of error pursuant to § 1024.35 or an information request
      pursuant to § 1024.36 . CFR Toolbox Law about... Articles from Wex Table of Popular Names Parallel
      Table of Authorities Accessibility About LII Contact us Advertise here Help Terms of use Privacy
    drafter_attestation: Verbatim subsection of 12 CFR §1024.40 from Cornell LII snapshot cde74e9b810c3590;
      body isolated between nav and notes; substring-verified.
  judgment: false
