Real Estate Foreclosure Compliance & Limitations
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two business days after live stream
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- Take-away toolkit
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Are you up to speed on the mortgage foreclosure process?
- Determine when a borrower becomes delinquent for purposes of foreclosure
- Understand the timing restrictions on mortgage foreclosures
- Explain when the lender must provide loss-mitigation options to the borrower
- Understand the rules to cover a “successor in interest,” including transfers caused by death, divorce, trust, or gift
- Identify who qualifies as a “successor in interest”
- Analyze which notices don’t violate the automatic stay in bankruptcy
- Determine the appropriate credit bid at the foreclosure sale
The residential mortgage foreclosure process has seen many important changes in the last few years. A mistake in the process can cause substantial damages to your financial institution that far exceed the loan amount. This webinar will explain the legal and compliance concerns starting with the decision to foreclose on the real estate and ending with holding the foreclosed real estate on the financial institution’s books. It will explore the proper steps required to handle a residential mortgage foreclosure and what can be done when the borrower files bankruptcy.
WHO SHOULD ATTEND?
This informative session is designed for staff involved in the real estate loan and collection process, including loan officers, workout officers, loan operations personnel, collectors, attorneys, compliance officers, and managers.
- Model form of periodic statements for consumers in Chapter 7 or 11 bankruptcies
- Model form of periodic statements for consumers in Chapter 12 or 13 bankruptcies
- Employee training log
- Interactive quiz