Compliance in Handling Private Mortgage Insurance (PMI), Including Recent Rule Changes

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Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available 6 business days following Live date
  • Available for 6 months following Live
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your bank
  • Presenter’s contact info for follow-up

The Dodd-Frank Act created a new world for mortgage servicing. While most lenders have incorporated the changes and continue to monitor the high-risk areas of real estate lending, there is an unexpected shift in the landscape. Suddenly, the mortgage insurance aspect of lending has made new headlines. A dispute over a PMI violation resulted in a $100 million dollar fine that prompted the eventual court decision that the CFPB’s structure is unconstitutional. Now, President Trump has canceled a last-minute reduction in mortgage insurance premiums on loans backed by the FHA, and PMI continues to be a high-value target of examination, complaints, and litigation. Recent CFPB guidance and enforcement actions have shed new light on the expectations of the regulators. Is your institution prepared for the increased focus?

PMI is arranged by the lender for your protection and is provided by private insurance companies. The CFPB has gone to great lengths to recognize the good and bad within the PMI area. Like other kinds of mortgage insurance, PMI can help borrowers qualify for a loan that they might not get otherwise. But, it increases the cost of the loan and it doesn’t protect them from problems. In some situations, the lender may not cancel the insurance when required or delay when a borrower requests cancellation. That is where the CFPB plans to act.

The Homeowners Protection Act of 1998 (HOPA) provides additional homeowner protection when cancelling PMI. Until now, it has been a relatively quiet compliance area. From inadequate settlement disclosures to faulty termination processes, the CFPB has been actively pursuing enforcement. This webinar will provide a full review of PMI and HOPA requirements and will focus on the unique compliance challenges presented by CFPB’s recent guidance and enforcement actions.

Recorded Thursday, April 27, 2017

Continuing Education: Attendance verification for CE credits upon request


  • Best practices to manage PMI problems
  • Understanding PMI compliance requirements
  • Focus on termination and disclosure requirements
  • Interplay with other real estate lending regulations
  • Interpreting the recent CFPB PMI termination guidance
  • Analysis of recent litigation and enforcement actions

    • PMI examination guidance
    • PMI risk assessment guidance
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key


This informative session is designed for executives, senior management, audit committee members, and staff involved with compliance, real estate lending, collections, internal audit, and real estate lending and loan servicing.

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Reed & Jolly, PLLC
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