Mortgage Servicing Compliance Requirements and Updates

Discussion of the legal and regulatory requirements in the mortgage servicing environment, particularly in this post-COVID age.

Recorded Tuesday,
September 6th, 2022
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

  • Auditing
  • Collections
  • Compliance
  • General Compliance
  • Lending
  • Lending Compliance
  • Mortgage Lending
  • Risk Management/Legal
  • Transaction Compliance
  • Bank Legal Counsel
  • Compliance Officer
  • Credit Analyst
  • Internal Auditor
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Risk Manager
  • Senior Management

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Servicing mortgage loans is a difficult and complex process, with many laws and regulations with which to comply. And particularly after the pandemic, regulators are looking very carefully at both how servicers are servicing loans, as well as which borrowers receive what type of treatment.

There are very detailed requirements in RESPA as to how to service mortgage loans, and when a borrower has defaulted, the requirements become even more complex. In addition, fair lending and UDAP/UDAAP risk is substantial. In this webinar, we'll review the requirements involved, as well as how to address defaulted borrowers and maintain an effective program to deal with the many issues.

What You'll Learn

  • RESPA's detailed servicing requirements, including the 2021 amendments and FAQs
  • Loss mitigation principles - regulators' primary concern
  • Reg. Z requirements, including periodic statements, payoff statements, and escrows
  • Flood insurance escrow requirements
  • Error resolution and information request requirements
  • Force-placed insurance
  • Default management rules, including early intervention requirements, access to personnel, continuity of contact, and the loss mitigation application process
  • Foreclosure provisions
  • Debt collection, including the FDCPA and Reg. F
  • Fair lending and UDAP/UDAAP issues

Who Should Attend

Anyone involved in the servicing and loss mitigation efforts within mortgage lending, including loss mit counselors, processors, and customer service representatives, as well as risk managers, compliance professionals, auditors, and legal staff.

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.

Continuing Education Credit Information

Mortgage Servicing Compliance Requirements and Updates 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.