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
Financial institutions are subject to an overwhelming – and changing – myriad of federal laws that deal with real estate loan collections and servicing, including the Truth in Lending Act (Reg Z), the Real Estate Settlement Procedures Act (Reg X), the Fair Debt Collection Practices Act (and UDAAP), the Fair Credit Reporting Act (Reg V), and the Equal Credit Opportunity Act (Reg B). Within the last few years, there have been many important changes to these laws regarding restrictions on collection procedures, mortgage default notices, successors in interest, timing restrictions on mortgage foreclosures, and new bankruptcy protections.
This webinar will explain the federal rules regarding real estate loan collection and foreclosure, and situations when small lenders and servicers are exempt from these rules. It also will address foreclosure alternatives, such as restructurings, short sales, and deeds in lieu of foreclosure. Practical tips for ensuring compliance with these complex mortgage collection rules will be provided.
Continuing Education: Attendance verification for CE credits upon request
- Clarification of when a borrower becomes delinquent for purposes of foreclosure
- “Successor in interest” rules governing real estate transfers caused by death, divorce, trust, or gift, and who qualifies
- Detailed analysis of mortgage foreclosure timing restrictions
- When are loss mitigation requirements applicable and when is a small lender or servicer exempt?
- Which collection notices don’t violate the automatic stay in bankruptcy?
- TAKE-AWAY TOOLKIT
- CFPB examination manual for mortgage servicing, including the modules for collection, loss mitigation, foreclosure, and bankruptcy
- Model collection notice and periodic statements for consumers in bankruptcy
- Employee training log
- Quiz to measure staff learning and a separate answer key
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WHO SHOULD ATTEND?
This informative session will benefit mortgage loan officers, credit personnel, loan operations staff, compliance staff, collectors, managers, auditors, and attorneys.
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.