Product Details
An Inside Mortgage Finance Webinar
Recorded February 14, 2013
Mortgage servicers will discover some surprises in the just-released CFPB final rule on servicing. On the plus side, the rule doesn’t require single points of contact. On the negative side, the rule differs significantly from the proposed rule and from the National Foreclosure Settlement and OCC consent orders that many used as a model for new above-the-law practices. Servicers find themselves back at square one, needing to revise procedures, personnel training and document management in order to meet the new federal standards.
Dive into the new rule, and learn its likely impact on you, with top regulatory experts in the Inside Mortgage Finance webinar “Resetting the Mortgage Servicing Bar: The CFPB’s New Rule," recorded on Thursday, February 14.
The panel includes:
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Laurence Platt Financial Services Practice Area Leader K&L Gates | Matthew Strange VP, Mortgage Compliance Manager Fifth Third Bank | Michael Waldron Practice Leader, Ballard Spahr | Paul Muolo Managing Editor Inside Mortgage Finance (moderator) |
Join us to sort through the new mortgage servicing rule:
- How do you qualify for the small-servicer exemption and which parts of the rule are you exempt from?
- What do you need to change about the way you manage documents?
- What are your responsibilities when a borrower reports you’ve made an error?
- What—and when—must you communicate with borrowers about their loss-mitigation options?
- Will the systems you put in place after the National Foreclosure Settlement and OCC Consent Orders satisfy the CFPB servicing rule?
- What are the responsibilities of your personnel who deal directly with borrowers?
- When can you foreclose on a property?
- How can you prove that you offered a borrower “all” loss mitigation options?
- What can you do to prepare for the servicing changes?
- What role do investors play?
- What changes do you have to make to your processes with “dual track” off the table?