Description
40min | Credits: 1 CRCM
Covers the types of errors covered and which errors are not covered, servicer requirements after receiving a notice of error, multiple or additional errors, and requirements for providing information from a borrower and to a borrower. Explores alternative compliance situations and additional servicer response requirements.
Audience: Anyone performing duties in consumer mortgage servicing areas and have live contact with borrowers.
Learning Objectives
After completing this course, students will be able to:
- Identify loans and errors that are covered under the error resolution requirements
- Describe information that must be included in the notice of error and address requirements for submitting the notice
- Explain servicer requirements after receiving a notice of error
This course is part of the ABA Frontline Compliance program.