When a Borrower Dies: Next Steps
On-Demand Webinar:
StreamedOct 19, 2023Duration90 minutes
- 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
It could happen any or even every day next week: a borrower passes away, but still owes money to your institution. Now what?
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 detailed
webinar with the answers to all your questions.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Understand what to do when a probate estate is opened and when one is never opened
- Determine when the deceased’s relatives and other parties can be held liable for loan repayment
- Distinguish the situations when the death of a co-borrower can constitute a loan default
- 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 a common daily occurrence. 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? Join us to learn the 10 most important lessons
when dealing with a borrower’s death. This webinar will thoroughly explain the
proper procedures and processes to follow when a borrower dies, 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 staff, 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.
TESTIMONIALS
"Perfect presentation and answered all my questions. Very informative, covered the topics I had questions about."
- Rose, Northeastern Operation Engineers Federal Credit Union
Presented By
Spencer Fane LLP
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