Is Your Bank's Implementation Plan Ready to Execute?
Wednesday, May 17, 2017 • 2:00 - 3:30 p.m. ET
Join us for a three-part mini-series that zeros in on the most challenging aspects of the Consumer Financial Protection Bureau's (CFPB's) recent amendments to the mortgage servicing rules—loss mitigation, successors in interest, and servicing borrowers in bankruptcy. These programs will focus on practical information you need to know as your bank executes its implementation plan for the new rules. This series is designed for bankers who have a working knowledge of the new rules.
This series will focus on:
- Necessary updates you need to make to your servicing policies and procedures
- Practical guidance to assist you with implementing the rules
- In-depth discussion and analysis of the more challenging aspects of the new rules
- Tips for working with your vendors to implement the new rules
will discuss the 2016 amendments to the loss mitigation rules which go into effect in October 2017. Have you made the necessary updates to your bank's system requirements, and related policies and procedures regarding processing borrowers' loss mitigation applications and preventing wrongful foreclosures?
This Briefing will address all amendments related to loss mitigation including, but not limited to:
- System requirements and process changes associated with the new disclosure requirements
- Obtaining information that is not in a borrower's control
- Providing short-term repayment and forbearance plans
- Dealing with multiple requests for loss mitigation
- Managing foreclosure counsel
- Overseeing servicing transfers involving loans in the loss mitigation process
- Krista Shonk, Vice President, Mortgage Finance / Senior Regulatory Counsel, American Bankers Association (moderator)
- Jason R. Bushby, Partner, Bradley Arant Boult Cummings LLP
- Jonathan R. Kolodziej, Associate, Bradley Arant Boult Cummings LLP