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Compliance Responsibilities in Foreclosures – What are the Expectations Now?

This webinar will discuss those requirements and provide guidance on the proper steps to follow to ensure you understand all the requirements when considering or initiating a foreclosure action.

OnDemand
Recorded Friday,
November 19th, 2021
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Lending
  • Risk Management/Legal
  • Bank Legal Counsel
  • Branch Manager
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Facilities Manager
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Risk Manager
  • Senior Management
  • Workout Specialist/Collector

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Unfortunately the last 18 months have seen many consumers in trouble, both because of the pandemic as well as the resulting dip in the labor market and overall economy. And this then means many borrower have defaulted on their mortgage loans, forcing lenders and servicers to consider foreclosing. And with the many moratoria against foreclosing and later extensions, it seems as though there will be many foreclosures initiated in a very short period of time. What are you permitted to do? What notices must be provided? The foreclosure process is by its nature a state-specific endeavor, but there are federal requirements as well. The CFPB and other federal agencies have instituted numerous requirements that must be met before foreclosures can be initiated.

This webinar will discuss those requirements and provide guidance on the proper steps to follow to ensure you understand all the requirements when considering or initiating a foreclosure action.

The "Compliance Responsibilities in Foreclosures – What are the Expectations Now?" webinar has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. Certification holders must report these credits at https://aba.csod.com.

Covered Topics

  • The nature of foreclosing – what happens?
  • Critical servicing requirements when a loan defaults that must be followed before foreclosing
  • Timing requirements
  • Notice rules
  • Federal agency mandates and rules before and during the foreclosure process
  • Tax reporting
  • General discussion on state laws and rules (note: each state is different, so we cannot speak to any individual state’s laws on foreclosures)
  • Additional regulatory requirements

Who should attend

Anyone in the institution involved in mortgage servicing, default management, loss mitigation, and related areas that has responsibilities around the foreclosure process. This may include compliance professionals, risk management professionals, attorneys and legal staff, management, back officer operations, and any other party involved in this process..


Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.


Credit Information

Compliance Responsibilities in Foreclosures – What are the Expectations Now? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.