(ON DEMAND) New CFPB Amended Mortgage Servicing Rules: What You Must Know Now & Why Advance Planning is Critical

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Mortgage servicing requirements and expectations are changing again!  The CFPB has amended its 2013 Mortgage Servicing Rules by adding new requirements, new borrower protections, and clarification to existing requirements.  Mortgage servicers need to begin learning about the amendments and outlining an implementation plan now to be compliant by the projected effective date of August 2017.

The amendments cover nine major topics – including the definition of delinquency, successors in interest, information requests, periodic statements, and loss mitigation requirements.  This webinar will provide a high-level overview of the amended mortgage servicing requirements, including which provisions apply to “small servicers.”  By understanding the amendments’ scope and impact early, institutions will be able to properly manage the time and resources necessary to implement the changes. 

Note:  A more thorough analysis of the impact of the changes on foreclosure and bankruptcy practices will be addressed in a separate webinar detailed below.

HIGHLIGHTS
Analysis of the CFPB’s definition of delinquency
Expectations for handling information requests for loans owned by Fannie Mae or Freddie Mac
Discussion of the requirements for working with successors in interest
Analysis of changes to periodic statement requirements, including alternative versions for borrowers who have filed for bankruptcy
Review of the “small servicer” exemption

TAKE-AWAY TOOLKIT
Summary of the changes to the nine major topics
Handout explaining which changes apply to “small servicers”
Employee training log
Quiz you can administer to measure staff learning and a separate answer key

DON’T MISS THIS RELATED WEBINAR!
New CFPB Amended Rules for Mortgage Foreclosure & Bankruptcy Protections:
Preparing Now for the 2017 Effective Date on Monday, November 7, 2016

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND? Mortgage servicing staff, loss mitigation personnel, and compliance and audit teams.

ABOUT THE PRESENTER – Steve Van Beek, NCCO, is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations.  He has intimate knowledge of the operational issues facing financial institutions and the best practices they can follow to reduce compliance, strategic, and reputation risks.  Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU).  He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.