What You'll Learn
Mortgage Servicing marries two of the most challenging regulations in banking: Reg Z and RESPA. The scope of coverage is equally intimidating. The two rules together cover the full life of a mortgage loan, from inception to collection. While the requirements mostly fall on closed-end mortgage loans, there are provisions that also apply for non-principal-residence loans and even open-end loans. Helpful exemptions apply for small servicers, but small shops don’t get out of everything. Plus! The Biden-era CFPB proposed significant changes to the mortgage servicing rules that would “streamline” certain aspects but add new additional burdens in others. What is the status of these proposed changes, and could they mean for your institution? Tune in to learn the latest!
Topics covered in this session
- The small servicer exemption
- Escrow accounts: When you must escrow & how, along with cancellation notice requirements
- ARM disclosures and notices
- Force-placement of hazard insurance
- Error Resolution and Information Requests
- Prompt payment crediting, conforming payments, and payoff requests
- Periodic statement requirements (including for bankrupt borrowers)
- Transfer of servicing requirements
- Loss mitigation:
- Successors in Interest
- Policies and procedures for it all
Who Should Attend
- Compliance staff
- Loan administration / production staff
- Mortgage loan staff
- Loan policy makers
- Loan officers and audit staff
Accreditations
CPE/NASBA
Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539.
Please note: You must attend at least 50 minutes to obtain credit. Final CPE approval belongs with each state's regulatory board. Credit is based on a 50-minute credit hour.
For more detailed information about the course, including the outline, content, and objectives, please refer to the 'Description' tab on this webpage.
Field Of Study:
Prerequisite: Basic knowledge of the banking industry, business, or law
Level of Knowledge:
Advanced Preparation: None
Teaching Method: Seminar/Lecture
Delivery Method: Group Internet Based
Requesting CE:
Upon completion of this course, please email
creditrequest@nogginguru.com
to obtain a CE certificate.
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