Description
45min | Credits: 1 CRCM
Provides an overview of the key changes in the new requirements of the topics related to mortgage servicing rules for the general loan servicing, special protections for loans in delinquency, and general servicer policies, procedures, and requirements.
Audience: Anyone performing duties in consumer mortgage servicing areas.
Learning Objectives
After completing this course, students will be able to:
- Discuss modified requirements for several general loan servicing activities
- Explain procedural rights and protections for financially distressed borrowers seeking a loan workout or other type of assistance with their mortgage loan
- Explain how the Bureau’s goals, interpretive ruling, and borrowers’ rights impact the design and execution of compliant servicers’ policies, procedures, and requirements as well as enforcement
This course is part of the ABA Frontline Compliance program.