Event Details
RELEASE DATE: JANUARY 22, 2024
DURATION: 100 MINUTES
Once the mortgage loan is booked, the credit union can’t just sit back and take the payments. There are many laws and regulations that affect the servicing of mortgage loans. This webinar focuses on the general servicing requirements of the laws and regulations applicable to all servicers.
During this session, we will examine each requirement including permitted and impermissible changes in terms for HELOCs and ARMs, periodic statements for HELOCs, maintenance of flood insurance and escrow accounts, private mortgage insurance notifications and cancellation requirements, handling error notifications and information requests, dealing with successors in interest, periodic statements, delinquency and loss mitigation requirements for certain servicers and also special protections under the Servicemember’s Civil Relief Act. After this session participants should be able to:
- Outline the restrictions on HELOC changes
- List the requirements for handling inquiries and error notifications on mortgage loans
- Summarize the requirements for PMI notifications and cancellations
- Understand the protections for servicemembers (and others)
This session is designed for: mortgage loan officers, servicing staff, loan policy and procedure writers, compliance and audit
MEET THE PRESENTER
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has been helping financial institutions with the development of compliance programs since 2000. She provides compliance training all over the country for various trade associations and financial institutions, and also speaks at numerous financial institution conferences throughout the country. Mary-Lou has been an instructor at regulatory compliance schools and conducts dozens of webinars for organizations throughout the country.
