Provides an overview of the key changes in the new requirements of the topics related to Servicing Rules for the general loan servicing, special protections for loans in delinquency, and general servicer policies, procedures, and requirements.
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 new borrower rights impact the design and execution of compliant servicer policies, procedures, and requirements, as well as and enforcement
