Regulation X
The US consumer financial regulation (Real Estate Settlement Procedures) that implements the Real Estate Settlement Procedures Act for mortgage settlement and servicing.
Overview
Regulation X, codified at 12 CFR Part 1024, implements the Real Estate Settlement Procedures Act for mortgage settlement and servicing. It governs settlement cost disclosures, escrow accounts, kickbacks and mortgage servicing duties such as loss mitigation.
Rulemaking authority for it sits with the Consumer Financial Protection Bureau since the Dodd-Frank Act, while prudential regulators and the CFPB examine for compliance depending on the institution.
As regulation it is binding and specific, and it is the layer most directly mapped to controls. The authorities most closely connected to it are CFPB. It is often read together with Dodd-Frank.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
Consumer financial regulations are tested transaction by transaction and are a frequent source of findings and redress.
Who it affects
Banks, credit unions, lenders, card issuers and fintechs serving US consumers.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to Regulation X. Select one to open it.
What to do about it
- 1Confirm whether you are in scope: who it covers, which activities and where.
- 2Break it into testable requirements.
- 3Map each requirement to a control and an owner.
- 4Track amendments, implementing rules and guidance.
- 5Keep sealed evidence for every control run.
From requirement to evidence.
Regulation X obligations are broken into testable requirements and run as controls on live data where possible.
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