This is a 90-minute webinar.
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
The ripples of COVID-19 have extended into collections, adding more complexity and compliance concerns. New legislation, borrower desperation, consumer protection, widespread unemployment, and other factors have increased the opportunities for missteps and ripened the ever-present risk. How are you going to address these issues?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Fine tune a virtual collections process that addresses productivity and preparedness
- Conduct effective credit reporting in accordance with the new CARES Act and bankruptcy guidelines
- Make loan modifications that comply with the Fair Credit Reporting Act and disclosure requirements
- Manage foreclosures, evictions, and repossessions – what’s in your state?
- Avoid communications landmines – TCPA and ADA issues
Even during the best of times, collection is a tricky proposition. An effective collection process must include sound communication methods with borrowers, resolve delinquencies, and recover collateral on defaulted loans, all while complying with an increasing variety of state and federal laws, rules, and regulations. In addition, the collections “mix” includes a growing group of ready-to-pounce consumer protection attorneys.
Now COVID-19 has brought untold ramifications, shutdowns, legislation, and more. It won’t be long before the stimulus money, modifications, forbearances, and other rescue options dry up. An avalanche of defaults is coming your way!
Increased volume and borrower desperation bring increased risk from the collections function. Understanding the litigation areas and sources of common collection mistakes is necessary to successfully manage risk during the pandemic. Better yet, that understanding will allow for more robust efforts to assist troubled borrowers! Learn to navigate the rapidly changing landscape of COVID-related collection risk and increase recoveries.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
The information in this session is designed for executives, CFOs, lending managers, collections managers, collections staff, auditors, and compliance personnel.
- Collections solutions matrix
- Checklist for managing virtual collections
- Regulatory guidance
- Sample collections inventory checklist
- Employee training log
- Interactive quiz
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.