Has your credit union updated and implemented procedures for
residential mortgage foreclosures, modifications, and workouts? The
CFPB’s new mortgage servicing rules, and the recently issued
Interagency Consumer Compliance Examination Procedures for Mortgage
Rules Pursuant to the Dodd-Frank Wall Street Reform and Consumer
Protection Act have dramatically changed the way foreclosures,
modifications, and workouts must be handled. This webinar will address
the new rules and suggest tips and strategies for ensuring compliance.
It will cover the CFPB’s new requirements for early intervention
and continuity of contact with delinquent borrowers, including new
loss-mitigation procedures. In addition, this program will include the
NCUA’s supervisory guidance on loan workouts, nonaccruals, and the
regulatory reporting of troubled debt restructured loans.
How the CFPB’s new mortgage servicing rules have changed the
mortgage workout and foreclosure process
New timing and interaction requirements among servicers and
creditors in foreclosures
New requirements for loss mitigation
What exemptions to the requirements may be available?
What are the requirements for an effective loan workout policy?