The Consumer Financial Protection Bureau has amended Regulation Z: Truth in Lending Act and Regulation X: Real Estate Settlement Procedures Act to establish strong consumer protections for homeowners. Mortgage servicers must now comply with unprecedented compliance requirements to ensure timely notices are sent and proper policies and procedures are in place. AVCU business partner Wolters-Kluwer is presenting a 90-minute webinar that addresses the final mortgage servicing amendments to TILA/Reg Z and RESPA/Reg X. The presentation will address new notice requirements involving borrower delinquency, interest rate adjustment, foreclosure alternatives and more. In addition, this presentation will review the final rules’ impact on policies and procedures and new expectations regarding documentation, processing and communication. A checklist of next-steps will be provided to all attendees to ensure the webinar information presented becomes personably actionable.
Participants will learn about:
- Requirements for servicers who annually service 5,000 or fewer loans and the requirements for servicers who annually service over 5,000 loans.
- Mandatory compliance disclosures impacting consumer notices, periodic billing statements and pay-off statements.
- Force-placed insurance notices, termination requirements and escrow implications.
- Enhanced mortgage servicing policies and procedures that include provisions for managing consumer accounts with accuracy and timely communication.
Presenters will be:
- Chris Zimmerman, Senior Compliance Consulting Specialist. Chris works with financial institutions to assist in strengthening their default servicing compliance programs, and has extensive experience analyzing regulatory servicing guidelines and developing processes and controls to ensure financial institutions are regulatory compliant.
- Mark Miller, Compliance Consulting Specialist. Mark consults with financial institutions to identify content and document gaps that may exist in workflows, from loan origination to default servicing, as institutions enter new jurisdictions or look to reassess their document library.
The new mortgage servicing rules take effect on 1/10/14. Between now and then, mortgage servicers must develop and implement new disclosures, notices, policies, procedures and processes. The place to begin is with this webinar and an understanding of what the new rules require.
The cost to participate in the webinar is $249.
To register click on one of the dates below:
• Wednesday 3/6/2013 9:00AM, EST
• Wednesday 3/27/2013 9:00AM, EST
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