12 C.F.R. § 1024.40

Continuity of contact

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(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.

(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:

(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

(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:

(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.

Notes of Decisions

Cited in 19 cases (11 in the last 5 years), 2015–2026 · leading case: Schmidt v. Pennymac Loan Services, LLC

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Schmidt v. Pennymac Loan Services, LLC (2015) mied · cites it 7× “Specifically, Schmidt claimed that PennyMac violated Regulation X’s continuity of contract requirements, 12 C.F.R. § 1024.40 promulgated by the Consumer Financial Protection Bureau and that Bank of America committed the state law tort of silent fraud.”

Cenatiempo v. Bank of America, N.A. (2019) conn · cites it 2× “38 (a) and (b) (2014); loss mitigation options; 12 C.F.R. § 1024.40 (b) (1) (i) (2014); and the status of a loss mitigation application.”

Ginette Saint Cilien v. U.S. Bank National Association (2017) ca11 “Plaintiffs claim for violations of 12 C.F.R. § 1024.40 also fails to state a claim for relief.”

Roman Magac v. Select Portfolio Servicing, Inc.; Bank of America, N.A.; Mortgage Electronic Registration Systems, Inc.; (2026) ord · cites it 7× “Plaintiff’s complaint asserts five claims: Claim 1: “Violation of Title 12 C.F.R. § 1024.40 (b)(1)(i), Failing to Provide Homeowner with Foreclosure Options/Alternatives, Enforceable through Title 12 U.”

Khurana v. CitiMortgage CA1/3 (2022) calctapp · cites it 5× “7); (4) committed negligence per se by failing to maintain policies and procedures reasonably designed to assist delinquent borrowers and provide them with accurate information as required by 12 C.F.R. part 1024.40, a regulation promulgated under the Real Estate Settlement…”

WILSON v. ROUNDPOINT MORTGAGE SERVICING CORPORATION (2022) njd · cites it 4× “41 is dismissed without prejudice, and the RESPA claim alleging a violation of 12 C.F.R. § 1024.40 is dismissed with prejudice.”

Hunter Mazza v. Primelending, et al. (2025) azd · cites it 3× “) Mazza also alleges defendants’ 22 failure to provide Mazza a single point of contact violated 12 C.F.R. § 1024.40 , which 23 regulates the personnel loan servicers must provide to borrowers.”

McMichael v. Select Portfolio Servicing, Inc. (2020) vawd · cites it 2× “41 and 12 C.F.R. § 1024.40 , along with all other “relevant” federal law and Virginia law, as conditions of the Deed of Trust—any failure to follow that body of law, regardless of whether there exists a private cause of action for the claim, would purportedly constitute a breach…”

Dana E. Moody v. PennyMac Loan Services, LLC, et al. (2018) nhd · cites it 2× “Lastly, the 2 court dismisses Moody’s claim under 12 C.F.R. § 1024.40 because § 1024.40 does not confer a private right of action and, in any event, Moody has failed to state a violation of that section.”

Muathe v. Wells Fargo Bank (2020) ca10 “To the extent these claims rely on the servicing obligations described in 12 C.F.R. § 1024.40 , Muathe fails to challenge the district court’s conclusion that there is no private cause of action to enforce § 1024.”

Banco Popular De Puerto Rico v. Castellanos Bayouth, Alfredo Antonio (2024) prapp “24 12 CFR 1024.40(b)(1). 25 Id. 26 12 CFR 1024.”

Saunders v. Select Portfolio Servicing Inc (2019) innd “2015) (holding there is no private right of action to enforce 12 C.F.R. § 1024.40 ). Without a private cause of action, Ms.”

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— 12 C.F.R. § 1024.40(b)(1) — 1 case

Banco Popular De Puerto Rico v. Castellanos Bayouth, Alfredo Antonio (2024) prapp “24 12 CFR 1024.40(b)(1). 25 Id. 26 12 CFR 1024.”

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