The Top 10 Things You Need to Know About the CFPB’s Amendments to Mortgage Servicing Requirements Before October 19th
Tuesday, June 27, 2017
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
The CFPB adopted detailed amendments to the mortgage servicing requirements under Regulation Z (TILA) and Regulation X (RESPA). Most amendments have a compliance deadline of October 19, 2017. This webinar will analyze the top 10 areas that mortgage servicers need to review, analyze, and adjust (if necessary) by that deadline. Topics will include the CFPB’s definition of delinquency, requirements for communicating with delinquent borrowers, handling information requests, and changes to force-placed insurance notices. This training will also address which amendments are not applicable for institutions that qualify for the “small servicer” exemption. Join us to learn about the changes effective October 19, 2017, and how to comply.
(Note: The compliance requirements with a deadline of April 19, 2018, will be briefly discussed, but this training will focus on the changes effective October 19, 2017.)
Continuing Education: Attendance verification for CE credits upon request
- Which changes are effective October 19, 2017?
- CFPB’s definition of delinquency
- CFPB’s clarifications regarding live contact with, and written notice to, delinquent borrowers
- Changes to force-placed insurance notices
- Expectations for handling information requests for loans owned by Fannie Mae or Freddie Mac
- Review of the small servicer exemption
- TAKE-AWAY TOOLKIT
- Summary of the changes effective October 19, 2017
- List of changes that apply to small servicers
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is directed to mortgage servicing staff, loss mitigation personnel, and compliance and audit teams.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.