The CFPB's latest changes to the Mortgage Servicing Rules under Regulations X and Z, (which were corrected on June 27, 2017), will become effective in two stages on October 19, 2017, and April 19, 2018. The changes affect nine major aspects of mortgage loan servicing that will have an impact on all mortgage servicers, large and small.
In this two-hour presentation, BOL Guru John Burnett will review the impending changes as they affect:
- Regulation X servicing provisions for
- Force-placed insurance notices
- Policies and procedures
- Early intervention
- Expanded loss mitigation requirements
- Regulation Z servicing provisions
- Further clarifying the definition of "small servicer"
- Affecting the prompt crediting of payments
- Affecting periodic statements
- Servicing requirements affected by
- Successors in interest
- Debtors in bankruptcy
- Cease communications requests under the Fair Debt Collection Practices Act
The refined definition of "delinquency"
Participants will learn which changes need to be completed by each of the two effective dates, along with the pros and cons of completing their policy or procedures changes sooner than required, and how the Bureau's recent "non-binding policy guidance" allowing a three-day period of early compliance will affect them.
Who Should Attend:
Loan servicing management and personnel, compliance officers, auditors.
Overall quality of the webinar was good - vickymck55
good delivery - rhendrickson