The CFPB’s April 19, 2018, mortgage servicing requirements are complex and require significant changes to existing procedures and disclosures. All servicers must ensure they have comprehensive practices for responding to potential successors in interest and for confirming and communicating with them. Additionally, servicers will need to determine which of the CFPB’s three options to adopt for communicating with confirmed successors in interest, in a manner that ensures clarity and does not indicate an obligation to repay a mortgage. The CFPB also removed the blanket exemption from the periodic statement requirement for borrowers in bankruptcy, making it necessary to provide modified periodic statements – which will require significant system configurations and testing to ensure the new requirements are met.
This webinar will also analyze the “small servicer” exemption and confirm which provisions of the April 19, 2018, amendments require compliance by all servicers – including those who meet the small servicer exemption.
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session is directed to mortgage servicing staff, loss mitigation personnel, and compliance and audit teams.
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.