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Mortgage Servicing (+ Manual)

$395.00

Category:

You’ve closed the loan, now what? With so many moving parts, thresholds, and regulatory requirements, servicing a consumer mortgage loan can be rather daunting. Mortgage loans, specifically, closed-end consumer credit transactions secured by residential real property, are subject to several federal lending laws and regulations, which impose requirements and restrictions after the creditor and borrower close on the loan.

Description

Mortgage Servicing is a four-hour seminar that highlights the key rules, primarily “compliance” but also including certain “safety and soundness”, that may apply to the creditor after origination – from general requirements  to specific rules regarding particular circumstances, such as defaulted borrowers, and the rules that could apply when a servicer wants to change terms of the transaction.

During the Mortgage Servicing seminar, we will discuss:

The following federal lending rules:

  • UDAP/UDAAP
  • Equal Credit Opportunity Act (Reg B)
  • Fair Housing Act
  • Fair Credit Reporting Act
  • Truth-in-Lending Act and RESPA
  • Flood
  • Appraisal
  • Homeownership Counseling
  • HOPA (PMI)
  • Brief overview of:
    • HMDA and CRA
    • Regs O/W
    • SAFE Act
    • Privacy
    • Servicemember Civil Relief Act

In the following categories:

  • Disclosures
  • Determinations, escrow, and other requirements
  • Defaulted and past due borrowers, including, among others:
    • Escrow provisions
    • RESPA
    • Successors-in-interest
  • Prohibitions, including, among others:
    • Fair Lending and UDAP/UDAAP
    • Mandatory arbitration
  • Changing the terms of the loan – consequences of refinances, modifications, and similar actions

Duration:                          4 hours

Level:                                    The seminar is at a basic/intermediate level.

Prerequisites:                   Basic understanding of lending.

Audience:             This program is intended for:

        • Financial institution compliance, credit, and risk executives and officers, as well as any member of the institution where knowledge or understanding of the servicing of mortgages is important or helpful, including underwriters, loan officers, and loan processors.
        • Examiners and third-party consultants, auditors, and related companies.

Delivery Method:           On-Demand/Virtual

Materials:                       Manual and PowerPoint presentation

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