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

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Monday, November 7, 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

On August 4, 2016, the CFPB issued its final rule amending the mortgage servicing regulations which were initially issued in 2013. Many important changes were made regarding mortgage foreclosure and bankruptcy protections. Your institution needs to prepare for these changes before the effective date, which is anticipated to be August 2017. In addition, the final rule provides safe harbor notices that must be sent when a consumer is in bankruptcy. This webinar will thoroughly explain the new changes to the mortgage foreclosure and bankruptcy rules that will affect your institution.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Clarification of when a borrower becomes delinquent for foreclosure purposes
  • Foreclosure timing restrictions
  • When lenders must provide borrowers with loss mitigation options more than once during the life of a loan
  • Expansion of the rules to cover a “successor in interest” including transfers caused by death, divorce, trust, or gift, and who qualifies as a “successor in interest”
  • Notices that don’t violate the automatic stay in bankruptcy
  • Applicability of the small servicer exemptions to the new changes
  • Interaction of the new changes with the Fair Debt Collection Practices Act

  • TAKE-AWAY TOOLKIT
    • Model form of periodic statements for consumers in Chapter 7, 11, 12, or 13 bankruptcies
    • 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 Mortgage Servicing Rules:
What You Must Know Now & Why Advance Planning is Critical "

on Tuesday, October 11, 2016

WHO SHOULD ATTEND?

This informative session will benefit all mortgage loan officers, credit personnel, loan operations staff, compliance personnel, collectors, managers, auditors, and attorneys.

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