Mortgage Compliance for Servicing
Servicing is under increasing scrutiny and reform is eminent. Requirements for increased transparency and additional oversight are expected at both the federal and state level.
This two-and-a-half-day course will provide a detailed review of existing federal regulations related to mortgage servicing and also review any proposed regulations for servicing. You will have opportunities to participate in activities and discussions with your instructors and peers as you analyze case studies, find solutions to scenarios and review scenarios to determine if they meet regulatory requirements.
Mortgage Compliance for Servicing Datasheet
This course is designed for those who have a strong understanding, and can identify the tasks, that are required to service a mortgage loan. Participants should also be able to describe loan file documentation and communication requirements set by investors or regulators. This course would be considered intermediate level.
This course was developed for mortgage servicing professionals in a leadership role and for those who have a good understanding of federal mortgage servicing compliance regulations and their applicability to specific functions during the life of the loan from initial servicing through final payoff or settlement. In addition, attendees should be familiar with the various federal agencies that oversee mortgage servicing.
What will I learn?
Upon completion of the course, students will be able to:
- Identify federal regulations and red flags for exceptions in practice
- Explain the applicability of various federal regulations and how they impact servicing practices
- Avoid prohibited practices and risks through consultation with servicing staff
- Describe key definitions as they relate to federal regulations
- Complete the steps for developing, implementing and revising servicing compliance policies and procedures
Benefits
Upon returning to the office, students will be able to:
- Create, implement and enforce policies and procedures to ensure compliance and avoid violations
Agenda
During the course the following topics will be covered:
Day 1
- Overview
- Anatomy of Regulations
- Prudential Regulators
- E-Sign/Regulation E
- Equal Credit Opportunity Act (ECOA)
- Fair and Accurate Credit Transactions Act (Fact Act)
- Fair Credit Reporting Act (FCRA)
- Gramm-Leach-Bliley Act (GLBA)
- Homeowners Protection Act (HPA)
Day 2
- National Flood Insurance Act
- Biggert-Waters Flood Insurance Reform Act
- Real Estate Settlement Procedures Act (RESPA)
- Servicemembers Civil Relief Act (SCRA)
- Truth in Lending Act (TILA)
- USA PATRIOT Act
- Select State/Local Servicing Issues
Day 3
- Agency Requirements
- Mortgage Servicing Rights
- National Servicing Settlement
- Policies and Procedures