Mortgage Servicing Rules for Small Servicers
Mortgages and servicing are rule intensive as it is. But if your institution is a small servicer, there are special rules. Do you know the provisions that apply to you? This session will review the elements of the mortgage servicing rules that apply to small servicers. It will address procedural best practices and provide tools to help meet the requirements.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Identify the mortgage servicing requirements for small servicers
- Use provided materials to assist with force-placement of insurance
- Understand the timing and content requirements for ARM disclosures and notices
- Detail the prompt crediting and payoff statement rule provisions
- Determine which loss mitigation requirements apply to your institution
- Respond to errors and information requests
- Clearly document the recordkeeping requirements to demonstrate compliance
WEBINAR DETAILS
As a small servicer, every time you get a new email notification regarding the mortgage servicing rules, such as the CFPB’s proposed/new final rule on foreclosures, you have to determine whether the change applies to your institution. The CFPB’s mortgage servicing rules require servicers to establish certain policies, procedures, and requirements, including the designation of personnel to assist consumers who fall behind on their mortgage payments. In addition, both RESPA and TILA contain rules servicers must follow. Join us to learn the ins and outs of mortgage servicing rules for small servicers.
WHO SHOULD ATTEND?
This informative session is designed for loan officers, loan operations personnel, loan processors, and compliance officers.
