When a Borrower Dies: Actions to Take, Mistakes to Avoid

November 20, 2024

Collections Compliance Lending Operations

Live Webinar:

DateNov 20, 2024Duration90 minutes

12:00 PM PST01:00 PM MST

02:00 PM CST03:00 PM EST

Unlimited connections for your institution
Available on desktop, mobile & tablet
Take-away toolkit
Presenter’s contact info for questions

On-Demand Webinar:

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

Now what? A borrower passed away, but still owes money to your institution.

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 jampacked webinar with the answers to all your questions.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Understand what steps to take when a probate estate is opened and what to do when a probate estate is never opened
Determine when relatives of the deceased or other parties can be held liable for repayment of the loan
Distinguish the situations when the death of a co-borrower can constitute a default under the loan
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 bound to happen. 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? This webinar will explain the proper procedures and processes your institution should follow when a borrower dies owing on a loan or other obligation to your institution, including the special procedures under the mortgage servicing rules regarding home loans.

WHO SHOULD ATTEND?

This informative session will be useful to all loan officers, loan operations personnel, collections staff, service representatives, compliance personnel, auditors, attorneys, and managers.

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 institution is prohibited. Print materials may be copied for eligible participants only.

Presented By

Elizabeth Fast

Spencer Fane LLP

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