Email to Order the Recording + Free Digital Download
On August 4, 2016, the CFPB issued its final rule amending the mortgage servicing regulations which were initially issued in 2013. Many important changes were made regarding mortgage foreclosure and bankruptcy protections. Your institution needs to prepare for these changes before the effective date, which is anticipated to be August 2017. In addition, the final rule provides safe harbor notices that must be sent when a consumer is in bankruptcy. This webinar will thoroughly explain the new changes to the mortgage foreclosure and bankruptcy rules that will affect your institution.
HIGHLIGHTS
Clarification of when a borrower becomes delinquent for foreclosure purposes
Foreclosure timing restrictions
When lenders must provide borrowers with loss mitigation options more than once during the life of a loan
Expansion of the rules to cover a “successor in interest” including transfers caused by death, divorce, trust, or gift, and who qualifies as a “successor in interest”
Notices that don’t violate the automatic stay in bankruptcy
Applicability of the small servicer exemptions to the new changes
Interaction of the new changes with the Fair Debt Collection Practices Act
TAKE-AWAY TOOLKIT
Model form of periodic statements for consumers in Chapter 7, 11, 12, or 13 bankruptcies
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 Mortgage Servicing Rules: What You Must Know Now & Why Advance Planning is Critical on Tuesday, October 11, 2016
Missed it? Order a recording of the live webinar, with a free digital download.
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Mortgagee loan officers, credit personnel, loan operations staff, compliance personnel, collectors, managers, auditors, and attorneys.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP, a partner where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
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