Financial institutions are subject to an overwhelming – and changing – myriad
of federal laws that deal with real estate loan collections and servicing,
including the Truth in Lending Act (Reg Z), the Real Estate Settlement
Procedures Act (Reg X), the Fair Debt Collection Practices Act (and UDAAP), the
Fair Credit Reporting Act (Reg V), and the Equal Credit Opportunity Act (Reg B).
Within the last few years, there have been many important changes to these laws
regarding restrictions on collection procedures, mortgage default notices,
successors in interest, timing restrictions on mortgage foreclosures, and new
This webinar will explain the federal rules
regarding real estate loan collection and foreclosure, and situations when small
lenders and servicers are exempt from these rules. It also will address
foreclosure alternatives, such as restructurings, short sales, and deeds in lieu
of foreclosure. Practical tips for ensuring compliance with these complex
mortgage collection rules will be provided.
- Clarification of when a borrower becomes delinquent for purposes of
- “Successor in interest” rules governing real estate transfers
caused by death, divorce, trust, or gift, and who qualifies
analysis of mortgage foreclosure timing restrictions
- When are loss
mitigation requirements applicable and when is a small lender or servicer
- Which collection notices don’t violate the automatic stay in
Elizabeth Fast, JD, CPA, Spencer Fane LLP
Live and recorded webinar, handouts, quiz with answer key and training log are included.