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New Mortgage Servicing Rules Under RESPA - Early Intervention, Continuous Contact and Loss Mitigation

Come January 2014, institutions that service mortgage loans need to ensure that they are prepared to comply with brand new mortgage servicing rules under RESPA for when a borrower becomes delinquent with their mortgage loan. The new rules respond to many of the challenges facing the $10 trillion mortgage loan market, and will bring about a myriad of new challenges for servicers with numerous strict requirements to comply with. The new rules include a level of detailed requirements for performance that are rarely seen in financial institution legislative statutes.

What You Will Learn:

  • Why you must begin compliance considerations
  • The different measurements for small servicers
  • What other regulations interplay with the delinquent borrower servicing rules
  • How to reduce the 45-day delinquent notices that you send out
  • Specific job functions your servicing personnel are now required to perform
  • The critical dates during the pre-foreclosure application period
  • Specific components you must have in your loss mitigation policies

Who Should Attend:

Compliance officers, executive management, board members, mortgage servicing staff, lending team members

Level:

Intermediate

Training on Demand's are limited to Premium Members. If you are interested in learning more about Premium Membership and its benefits, please contact us at Regulatory.Services@capco.com.

Premium Members get access to a number of compliance and risk management resources, including: • Live Webinars • On-Demand Training • Big Orange Book • TRID Calculator • Quick Reference Guides (QRGs) • Monthly Compliance Calendar • Advertising Tutorial

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