This time next year the nation’s first set of federal mortgage servicing standards governing how companies must treat borrowers will go into effect. The CFPB’s new mortgage servicing rules, contained in RESPA and TILA are complicated and raise numerous operational challenges.

This 90 minute web seminar will tap into the expertise of those in the trenches on these new rules, specifically focusing on the nine major topics and their impact on:

• Operational changes to policies and procedures on core servicing functions, staff oversight and vendor management to comply with the new “command and control” rule based requirements
• Responding to a borrowers assertion of an error, request for information or QWR
• Allowable servicing fees
• Communication with delinquent borrowers about loss mitigation options
• Dual-tracking of loss mitigation and foreclosure
• System changes to implement new periodic monthly statements, ARM disclosures, force place insurance disclosures, to name a few
• How servicers obtain and maintain servicing records
• HELOCs, reverse loans, existing state law requirements and small servicers
• Existing requirements impacting escrows, application of payments and payoff statements

Panelists:

Antonio Chimienti, Esq., Senior Vice President, Compliance, Bayview Loan Servicing, LLC