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Course/Product Description
Title:

Mortgage and Student Loan Servicers Under Heightened Regulatory and Enforcement Scrutiny

SKU:WC-1013364
Date / Time: Recorded
Format: Webinar
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Description:

This CLE webinar will provide banking counsel with a review of the new and still evolving CFPB regulatory and enforcement environment for the residential mortgage and student loan servicing industries. The panel will outline best practices for adapting to and complying with new laws and regulatory oversight and discuss lessons from recent consumer loan servicing litigation and enforcement actions.

Description

The CFPB Final Servicing Rules, effective Jan. 10, 2014, make significant changes to loan servicing procedures and impact how mortgage payments are collected and managed. New disclosure mandates are also imposed. Servicers cannot commence foreclosure until after 120 days of delinquency, giving borrowers time to apply for loan modifications.

The nationwide AG servicing settlement is not quite consistent with the new CFPB Servicing Rules and servicers must navigate the interplay between the two sets of standards. Added to the mix are various state laws and state-level initiatives that servicers must balance.

In Dec. 2013, the CFPB issued a rule that allows the Bureau to supervise certain large non-bank student loan servicers for the first time. Non-bank loan servicers, regardless of size, remain subject to the Bureau's enforcement jurisdiction. Student loan servicers must quickly adapt to this changing legal environment.

Listen as our authoritative panel of attorneys discusses the evolving CFPB regulatory and enforcement environment for the consumer loan servicing market, how to adapt to and comply with new laws and regulatory oversight, and lessons learned from recent servicing litigation and regulatory enforcement action.

Outline

  • Mortgage loan servicers
    • New CFPB Final Servicing Rules for residential mortgage loans
    • Interplay between CFPB servicing rules and the national servicing settlement
    • Navigating federal vs. state-level servicing requirements and enforcement
    • Lessons from recent mortgage servicing litigation—FDCPA, RESPA, FCRA liability for lack of disclosure
  • Student loan servicers
    • CFPB initiatives, supervisory oversight and enforcement jurisdiction
    • Bankruptcy court developments

Benefits

The panel will review these and other key questions:

  • What mortgage loan servicers are affected by the Final Servicing Rules and who qualifies for the "small servicer" exemption?
  • What information must mortage loan servicers now provide to consumers and what new communication is mandated with defaulting borrowers?
  • What are lessons from recent mortgage servicing litigation?
  • What issues can we expect to see raised by the CFPB regarding student loan servicers in 2014?
  • What are the latest developments in the dischargeability of student loan debt in bankruptcy?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Processing

To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Credit Confirmation

Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.


Delivery

Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.




Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.

Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.

Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
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