It appears that there may be problems, in at least some cases, when you apply KB 3062157 to servers running Exchange Server 2013 SP1 or later. It will break web services such as OWA, ActiveSync, EWS, and ECP. The KB is meant to address vulnerabilities described in Microsoft Security bulletin MS15-064.
The good news is that this problem appears to affect only single role servers and not multi-role servers. Since most deployments have multi-role servers that will limit the impact.
If you deploy this update and experience problems, removing the update should resolve the issue and get the server functional again.
This update is also included as part of CU9 and doesn't appear to have the same issues when installed as part of CU9. A commenter on the blog below had problems with KB3062157, uninstalled that update, and installed CU9 without issue.