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Mortgage Servicing: Force-Placed Insurance


Covers specific requirements for when servicers can purchase force-placed insurance, what guidance exists for fees, how servicers seek repayment of advanced premiums, and how servicers handle loans with force-placed insurance in foreclosure and the cancellation of force-placed insurance when it is no longer needed.

Updated: August 2018

What You'll Learn

After completing this course, students will be able to:

  • Identify to which loans the Servicing Rules force-placed insurance requirements apply and what insurance types constitute forced-placed insurance
  • Describe how the Servicing Rules address FDCPA liability pertaining to debt collection
  • Explain the Servicing Rules' notice requirements for force-placed insurance
  • Describe the Servicing Rules requirements that pertain to handling force-placed insurance transactions

Audience

Anyone performing duties in consumer mortgage servicing areas devoted to asset securitization.

​Course Credits

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​Questions? Please contact training@aba.com for more information.​
 

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