(a) A servicer shall implement reasonable policies and procedures for accepting, processing, investigating, and responding to requests for assistance in a timely and effective manner, including, but not limited to, the following requirements:
         (1) A servicer shall provide readily accessible
    
methods for consumers to submit a request for assistance to the servicer, including such methods as phone, email, and U.S. mail.
        (2) A servicer shall post on its website and disclose
    
on its billing statements:
            (A) the toll-free telephone number, email
        
address, and mailing address for consumers to submit a requests for assistance to the servicer; and
            (B) the procedures for a requester to send a
        
written communication to the servicer regarding any request for assistance.
        (3) For any request for assistance that includes a
    
request for documentation or information, where a response cannot be immediately provided, a servicer shall provide the requested documentation or information to the requester within 14 calendar days of the request; if a servicer determines in good faith that it is unable to provide the documentation or information within 14 calendar days, promptly after making the determination, the servicer shall notify the requester of the expected response period, which must be reasonable for the request for assistance.
    (b) A servicer shall implement a process by which a requester can escalate any request for assistance. Such process shall allow a requester who has made a request for assistance on the phone and who receives a response during the call to obtain immediate review of the response by an employee of the servicer at a higher supervisory level.
     (c) The following requirements shall apply when a requester submits a written or oral request for assistance which contains an account dispute to a servicer:
         (1) Within 14 calendar days after its receipt of the
    
written communication or oral request for further escalation, a servicer shall attempt to make contact, including providing the requester with name and contact information of the representative handling the account dispute, by phone or in writing, to the requester and document such attempt in the borrower's account.
        (2) A servicer shall complete the following actions
    
within 30 calendar days of its receipt of the written communication or oral request for further escalation, subject to paragraph (3) of this subsection:
            (A) conduct a thorough investigation of the
        
account dispute;
            (B) make all appropriate corrections to the
        
account of the requester, including crediting any late fees assessed and derogatory credit furnishing as the result of any error, and, if any corrections are made, sending the requester a written notification that includes the following information:
                (i) an explanation of the correction or
            
corrections to the requester's account that have been made; and
                (ii) the toll-free telephone number, email
            
address, and mailing address of the servicer's personnel knowledgeable about the investigation and resolution of the account dispute.
        (3) If a servicer determines in good faith that it
    
cannot complete a thorough investigation of the account dispute within 30 calendar days after receiving the written communication or oral request for further escalation regarding the account dispute, then, promptly after making the determination, the servicer shall notify the requester of the expected resolution time period, which must be reasonable for the account dispute. A servicer must complete the actions listed in the investigation and resolution of account dispute within this time period.
        (4) If a servicer determines as a result of its
    
investigation that the requested changes to a requester's dispute will not be made, the servicer shall provide the requester with a written notification that includes the following information:
            (A) a description of its determination and an
        
explanation of the reasons for that determination;
            (B) the toll-free telephone number, email
        
address, and mailing address of the servicer's personnel knowledgeable about the investigation and resolution of the account dispute;
            (C) instructions about how the requester can
        
appeal the servicer's determination in accordance with paragraph (5) of this subsection; and
            (D) information regarding the method by which a
        
borrower may request copies of documents a servicer relied on to make a determination that no changes to a requester's account will be made.
        (5) After the requester receives a determination
    
regarding an account dispute in accordance with paragraph (4) of this subsection, the servicer shall allow a process by which the requester can appeal, in writing, the determination. The appeals process shall include:
            (A) a written acknowledgment notifying the
        
requester that the servicer has commenced the appeals process; such acknowledgment shall be sent within 14 calendar days after receiving a written request for appeal from the requester;
            (B) an independent reassessment of the servicer's
        
determination regarding the account dispute, performed by another employee of the servicer at an equal or higher supervisory level than the employee or employees involved in the initial account dispute determination;
            (C) investigation and resolution of appeals
        
within 30 calendar days after a servicer's commencement of the appeals process; and
            (D) notification sent to the requester, in
        
writing, documenting the outcome of the appeal, including any reason for denial.
    (d) While a requester has a pending account dispute, including any applicable appeal, a servicer shall take reasonable steps to:
         (1) prevent negative credit reporting with respect to
    
the borrower's or cosigner's account while the dispute is under review; and
        (2) suspend all collection activities on the account
    
while the account dispute is being researched or resolved, if the account dispute is related to the delinquency.