Description:
Mortgage Servicing marries two of the most challenging regulations in banking: Reg Z and RESPA. Complying with either regulation is tricky in its own right, but keeping the both provisions straight is downright daunting.
The scope of coverage is equally intimidating. The two rules together cover the full life of a mortgage loan, from inception to collection. While the requirements mostly fall on closed-end mortgage loans, there are provisions that also apply for non-principal-residence loans and even open-end loans. Helpful exemptions apply for small servicers, but small shops don’t get out of everything.
There is a huge amount of mortgage servicing information to keep straight and get right. Do you know what does and does not apply to your financial institution? Either:
- You are in need of a fresh look at your small-servicer status to confirm (and document) your exempt status; as well as review what still applies to you;
- You are on the bubble and might become a larger servicer on January 1st; and you need to prepare for what is in store for you;
- You are already living the larger servicer life, and you need to make sure you are getting everything right!
Join in to learn all about:
- The small servicer exemption
- Escrow accounts: When you must escrow & how, along with cancellation notice requirements
- ARM disclosures and notices
- Force-placement of hazard insurance
- Error Resolution and Information Requests
- Prompt payment crediting, conforming payments, and payoff requests
- Periodic statement requirements (including for bankrupt borrowers)
- Transfer of servicing requirements
- Loss mitigation:
- Early intervention
- Continuity of contact
- Successors in Interest
- Policies and procedures for it all
Plus! The Biden-era CFPB proposed significant changes to the mortgage servicing rules that would “streamline” certain aspects but add new additional burdens in others. What is the status of these proposed changes under the current administration, and what do they mean for your institution? Tune in to learn the latest!
WHO SHOULD ATTEND:
Compliance staff, loan administration / production staff, mortgage loan staff, loan officers and audit staff.
Reminder: The registration fee includes live attendance AND a playback recording of the session, available once the session concludes.
This session is eligible for Continuing Education (CE) credits by the American Bankers Association.
Presenters:
Rebekah Leonard, CRCM
Rebekah is the owner of Elucidate LLC, a compliance training and consulting company. Elucidate means to “make clear, explain, throw light upon”, and describes Rebekah’s desire to illuminate the complexities of compliance with passion and fun. She’s created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through BOL and Compliance Resource. Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she’s covered nearly all of it – customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams. Rebekah has a bachelor’s degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006. She is a BOL Compliance Guru.
June 18, 2025