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New CFPB Amended Mortgage Servicing Rules: What You Must Know Now & Why Advance Planning is Critical

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Tuesday, October 11, 2016

12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

Mortgage servicing requirements and expectations are changing again! The CFPB has amended its 2013 Mortgage Servicing Rules by adding new requirements, new borrower protections, and clarification to existing requirements. Mortgage servicers need to begin learning about the amendments and outlining an implementation plan now to be compliant by the projected effective date of August 2017.

The amendments cover nine major topics – including the definition of delinquency, successors in interest, information requests, periodic statements, and loss mitigation requirements. This webinar will provide a high-level overview of the amended mortgage servicing requirements, including which provisions apply to “small servicers.” By understanding the amendments’ scope and impact early, institutions will be able to properly manage the time and resources necessary to implement the changes.

Note: A more thorough analysis of the impact of the changes on foreclosure and bankruptcy practices will be addressed in a separate webinar detailed below.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Analysis of the CFPB’s definition of delinquency
  • Expectations for handling information requests for loans owned by Fannie Mae or Freddie Mac
  • Discussion of the requirements for working with successors in interest
  • Analysis of changes to periodic statement requirements, including alternative versions for borrowers who have filed for bankruptcy
  • Review of the “small servicer” exemption

  • TAKE-AWAY TOOLKIT
    • Summary of the changes to the nine major topics
    • Handout explaining which changes apply to “small servicers”
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

DON’T MISS THIS RELATED WEBINAR!

"New CFPB Amended Rules for Mortgage Foreclosure & Bankruptcy Protections:
Preparing Now for the 2017 Effective Date "

on Monday, November 7, 2016

WHO SHOULD ATTEND?

This informative session is directed to mortgage servicing staff, loss mitigation personnel, and compliance and audit teams.

PLEASE NOTE:    Webinar content is subject to copyright and intended for your individual financial institution’s use only.