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Real Estate Collections Under the New CFPB Mortgage Servicing Rules

Date: January 14, 2014

Time: 3:00pm - 4:30pm

TIME: 3:00 pm – 4:30 pm ET
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Buried within the avalanche of new regulations are very detailed rules governing every aspect of your real estate collections program. Is your institution ready? Are you incorporating these changes? The new mortgage servicing rules govern the timing and content of your delinquent borrower contact, the process for communicating loan modification options, and the foreclosure-initiation timing requirements. Recent changes to Truth in Lending and RESPA have added extensive new mortgage collection requirements for institutions that service 5,000 or more real estate loans – but there are hidden requirements for smaller servicers as well. From loan initiation to foreclosure completion, this session will review the new rules and how to effectively implement them.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Policy requirements
  • Small servicer exceptions
  • Requirements for documenting borrower communications
  • Document retention requirements for loss prevention efforts
  • Early intervention requirements
  • Communicating loss-mitigation options
  • TAKE-AWAY TOOLKIT
    • Rule application chart
    • Real estate collections checklist
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is designed for executives, real estate lending staff, collections managers, real estate collectors, workout specialists, compliance personnel, and internal auditors.

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