Understanding the New Mortgage Servicing Requirements

Duration: 90 Minutes
In August 2016, the Consumer Financial Protection Bureau ("CFPB") publish its latest revision of the Title XIV: Mortgage Servicing Rules under Regulations X (RESPA) and Z (Truth-in-Lending Act), which will become effective in two stages on October 19, 2017, and April 19, 2018. The changes affect nine major aspects of mortgage loan servicing that will have an impact on all mortgage servicers, large and small. The CFPB issued minor technical corrections to the final rule in June 2017.
Mortgage Loan Servicing Regulations
Instructor: Jon Tavares
Product ID: 507633
Objectives of the Presentation
  • Which requirements are effective in October 19, 2017 and which are effective in April 19, 2018
  • The technical changes to Regulations X and Z
  • The scope, coverage, and definition changes to the Mortgage Servicing Requirements
  • The new force placed insurance requirements
  • The early intervention requirements, including changes to the bankruptcy and FDCPA exceptions
  • The new loss mitigation requirements, including changes to the receipt and evaluation of loss mitigation application requirements, foreclosure requirements, and servicing transfer requirements
  • New periodic statement requirements, including the new charged off loan exception and changes to the bankruptcy and FDCPA exceptions
  • Changes to the small servicer determination and
  • Requirements related to successors in interest
Why Should you Attend
In August 2016, the Consumer Financial Protection Bureau ("CFPB") publish its latest revision of the Title XIV: Mortgage in this informative 90-minute presentation, Jon Tavares will summarize the CFPB's 900 pages of rule changes in plain English, including changes to:
  • The scope, coverage, and definitions related to mortgage servicing
  • Force place insurance
  • General servicing policies, procedures, and requirements
  • Early intervention and continuity
  • Loss mitigation requirements
  • Payment processing
  • Periodic statement requirements
  • Small servicer determination
  • Successors in interest
  • The bankruptcy exception and
  • Cease communications requests under the Fair Debt Collection Practices Act
Who will Benefit
The following personnel will benefit from this critical and important training session:
  • Financial institutions/other Lending and FinTech companies
  • In-house legal and Compliance executives
  • C-Suite Executives
  • Chief Marketing Officers/ Executive Sales Department Heads
  • Marketing Department Staff
  • Collections Officers
  • Compliance Officers
  • Auditors and Audit Staff
  • Loan servicing management and personnel
  • Credit Unions
  • Mortgage lenders and services
$300
Recorded Session for one participant
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  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Jon Tavares, JD, LLM, CRCM, NCCO is an independent regulatory compliance consultant and trainer. Having served as Corporate Counsel for a community bank, Compliance Officer at a regional bank, and Regulatory Change Manager at a large bank, Jon has varied and wide-ranging experience. He is knowledgeable in all aspects of banking compliance with an emphasis on advertising, military lending, mortgage, and privacy rules. He earned a Bachelor of Arts from San Diego State University and Master of Laws and Juris Doctor degrees from The University of Alabama School of Law. He is a Certified Regulatory Compliance Manager and NAFCU Certified Compliance Officer.
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