Mortgage Servicing Compliance Webinar
In a sense, servicing consumer mortgage loans has always been a bit of the “wild west” of compliance, meaning there was little in the way of rules and regulations. But thanks to the financial crisis and resulting exposure of unsavory practices, rules were put into place by the Dodd-Frank Act.
Webinar Description and Intended Audience
In a sense, servicing consumer mortgage loans has always been a bit of the “wild west” of compliance, meaning there was little in the way of rules and regulations. But thanks to the financial crisis and resulting exposure of unsavory practices, rules were put into place by the Dodd-Frank Act. In addition, the CFPB just issued regulations that further the requirements mortgage servicers must follow. The rules will be effective one year from when they are published in the Federal Register, but the time to begin preparations is now.
These rules include many “standard” requirements dealing with periodic statements and escrows, for example, but most of the requirements focus on how servicers deal with distressed borrowers – from mandating “early intervention” and processes around loss mitigation applications, to foreclosure timing rules.
We’ll focus on these critical areas as well as the rules, and provide practical advice on how to meet both regulatory and borrower expectations.
- Impending requirements from the CFPB, including servicing transfer rules, notices, and successors in interest
- Clarifications of foreclosure protections
- Treatment of borrowers in bankruptcy
- Fair Debt Collection Practices Act (FDCPA) rules, including their impact on the rules
- Periodic statement ( Regulation Z, Truth in Lending) and similar disclosure requirements, including exemptions
- ARM (Adjustable Rate Mortgage) change notification requirements
- Dealing with partial payments
- Providing payoff statements
- Force-placed insurance requirements
- Reasonable servicing policy and procedure requirements
- Early intervention rules
- Loss mitigation options, applications, and processes
- Servicing file requirement
- Foreclosure rules, including timing and notices
Who Should Attend?
This interactive session will provide an in-depth understanding of these rules, which is imperative for anyone performing duties in consumer mortgage servicing areas of your financial institution. These individuals include loss mitigation specialists, collectors, supervisors, auditors, special asset staff, compliance officers, auditors, counsel, and others working in similar positions.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
Webinar Viewing Options
INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time.
SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.