When a Borrower Dies

It could happen any or even every day next week: a borrower passes away, but still owes money to your institution. Now what? What are the chances of collecting? How do you go about it — compliantly? Is setoff an option? What about relatives or joint accounts? Don’t miss this detailed webinar with the answers to all your questions.

After This Webinar You’ll Be Able To:

• Understand what to do when a probate estate is opened and when one is never opened
• Determine when the deceased’s relatives and other parties can be held liable for loan repayment
• Distinguish the situations when the death of a co-borrower can constitute a loan default
• Properly exercise your institution’s rights of setoff in the deceased’s deposit accounts
• Explain the special rules for home mortgage loans when a borrower dies

Webinar Details
It’s a common daily occurrence. One of your borrowers dies, still owing on a loan or other obligation. In this situation, you must act swiftly to increase the chances of collecting on the loan and to avoid liability. What should you do? Join us to learn the 10 most important lessons when dealing with a borrower’s death. This webinar will thoroughly explain the proper procedures and processes to follow when a borrower dies, including the special procedures under the mortgage servicing rules regarding home loans.

Take-Away Toolkit

• Sample procedures for handling and collecting loans of deceased borrowers
• Employee training log
• Interactive quiz
• PDF of slides and speaker’s contact info for follow-up questions
• Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Elizabeth Fast JD, CPA — Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Fast is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.

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