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Mortgage Servicing Compliance Requirements and Updates

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There are very detailed requirements in RESPA as to how to service mortgage loans. When a borrower has defaulted, the requirements become even more complex.

In addition, there are Reg. Z, flood insurance, appraisal rules, and additional concerns. Debt collection is also primary on the regulators’ list of concerns.

In this webinar, we’ll review the requirements involved, as well as how to address defaulted borrowers and maintain an effective program to deal with the many issues.

What You’ll Learn

  • RESPA’s detailed servicing requirements, including amendments and FAQs
  • Default management rules, including early intervention requirements, access to personnel, continuity of contact, and the loss mitigation application process
  • Loss mitigation principles – regulators’ primary concern
  • Reg. Z requirements, including periodic statements, payoff statements, and escrows
  • Flood insurance escrow requirements
  • Error resolution and information request requirements
  • Force-placed insurance
  • Foreclosure provisions
  • Debt collection, including the FDCPA and Reg. F
  • Fair lending and UDAP/UDAAP issues

Who Should Attend
Anyone involved in the servicing and loss mitigation efforts within mortgage lending, including loss mitigation counselors, processors, and customer service representatives, as well as risk managers, compliance professionals, auditors, and legal staff will benefit from this session.