New Mortgage Servicing Rule Changes Effective 2021 | Financial Education and Development | 31 August 2021 | Webinar

Mortgage servicing became a whole new animal during the pandemic crisis. But very soon the sun will set on the forbearances that were granted. Therefore, the CFPB finalized rules to protect residential mortgage borrowers in arrears.

The provisions apply to closed-end residential mortgage loans secured by the borrower’s principal residence. It is imperative that your institution is prepared to implement these changes quickly to provide relief to mortgage borrowers facing hardship! Although the five key amendments to Regulation X generally exempt small servicers, it is important to understand these changes because borrowers will expect the same meaningful opportunity to explore ways to avoid foreclosure from all mortgage servicers. The message from the regulators has been clear – it is important for institutions to work with borrowers during the pandemic.

WHO SHOULD ATTEND?
This informative session is designed for mortgage servicing staff, loan officers, compliance officers, and internal auditors.

TAKE-AWAY TOOLKIT
• Reference materials
• Contact information for homeownership counseling services
• Checklist to document eligibility for a loan modification based upon evaluation of an incomplete application
• Worksheet to document record-retention requirements
• Employee training log
• Interactive quiz

2021 Speaker

PRESENTER:

Molly Stull
Consultant, Brode Consulting Services, Inc.