Mortgage Servicing and Sub-Servicing: Update on Regulatory Requirements and Recent CFPB Pronouncements on Supervision and Enforcement

Duration: 60 Minutes
The Consumer Financial Protection Bureau (CFPB) on August 4, 2016, amended its mortgage servicing requirements with respect to force-placed insurance notices, mortgage servicing policies and procedures, early intervention, and loss mitigation requirements under Regulation X's servicing provisions; and prompt crediting and periodic statement requirements under Regulation Z's servicing provisions. In June 2016, the CFPB issued a special edition of its Supervisory Highlights dedicated to mortgage servicing. Mortgage servicers must understand how these regulatory changes and the CFPB's views on servicer supervision and enforcement will affect their servicing operations.
Mortgage Servicing and Sub-Servicing
Instructor: Chrys D Lemon
Product ID: 501964
Objectives of the Presentation
  • Detailed outline of the CFPB's mortgage servicing rules, as recently amended
  • How the CFPB views compliance with the mortgage servicing rules
  • Review of Supervisory Highlights and the CFPB's Examination Manual
  • Review basic requirements of the Mortgage Servicing Rules (Regulations X and Y) – a brief refresher
  • Discuss how recent amendments have changed the Mortgage Servicing Rules regarding force-placed insurance notices, mortgage servicing policies and procedures, early intervention, loss mitigation requirements, prompt crediting and periodic statement requirements
  • Examine recent CFPB Supervisory Highlights on mortgage servicing
  • Take a look at the CFPB's Enforcement Manual on mortgage servicing
  • Review special rules for small servicers
Why should you Attend
This session will provide a detailed outline of the CFPB's mortgage servicing rules, as recently amended. You will also learn how the CFPB views compliance with the mortgage servicing rules. In the aftermath of the 2008 financial crisis, mortgage servicing has been in the CFPB's crosshairs. It still remains the same to this day and this webinar will help mortgage servicers stay in the CFPB's good graces.

Who will Benefit
Anyone involved in servicing consumer mortgages, including compliance managers and legal counsel.
$300
Recorded Session for one participant
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  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Chrys Lemon is a partner in McIntyre & Lemon, PLLC, in Washington, D.C. He specializes in financial services law, particularly related to marketing of consumer financial products and services, privacy law, insurance law, and regulation of financial institutions by the Consumer Financial Protection Bureau. From 1980 to 1986, Mr. Lemon was an instructor pilot in the United States Air Force. From 1986 to 1988, he worked as an analyst in the Office of the Secretary of Defense.
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