SLG announcing a recorded Webinar:
from Tuesday December 10, 2013
California Foreclosure Law: Legislative and Litigation Review
(Focus on Dodd Frank Mortgage Servicing Rules: Are you Ready)?
• Dodd- Frank Act-Mortgage Servicing Rules
• SB 900/CA Homeowner's Bill of Rights: Where have we been, where are we going?
A strengthening real estate market and consumer friendly courts and legislation have dramatically slowed default processing in California in 2013. However, some signs point to an increase in default activity in 2014. Federal Mortgage Servicing Rules set to take effect on January 10, 2014, affecting all mortgage servicers on covered loans, will add significant and technical compliance requirements, to those mandated under California law. You must prepare now!
Webinar: California Foreclosure Law: Legislative and Litigation Review: Focus on Dodd Frank Mortgage Servicing Rules This webinar will help you avoid costly mistakes!!
General Outline of Subjects Covered:
I. Looking Ahead: BK-FC Trends.
II. Loss Mitigation:
• Do new legislation and court cases now require lenders to modify loans? You will be surprised.
• Loss Mit. Policies and Procedures: No longer an option. Without them, you will be sued. Learn what you have to do.
• Deficiency Judgments: Can you still obtain a deficiency judgment on consumer loans?
o What about short sales where your borrower agrees to allow a deficiency? Is this enforceable?
o Effect of Refinances on Deficiency Liability.
III. SB 900/California Homeowners Bill of Rights ("HOBR").
• General Review: Where have we been?
• Lessons learned since the Implementation of SB 900.
o How to reduce multiple loan modification requests.
o Recent Court cases. They are not all bad for Lenders.
o How to respond to Litigation. Know where the" safe harbors" are if you are sued.
IV. Dodd Frank:
• General Review of new TILA/RESPA Mortgage Servicingand Error Resolution Rules.
o Mortgage Servicing Rules
• Borrowers can sue if you don't comply.
• Who is covered? "Small Servicers" have many exemptions, but are not wholly exempt: Learn what your obligations are.
• Policies and Procedures no longer an option for larger servicers. What is required?
• Error Resolution Procedures: They are complex and technical. Prepare now.
• Loss Mitigation Procedures: Added to the HOBR requirements. You need to respond correctly and timely.
o Early Intervention Requirements.
o Responding to Loss Mitigation Applications.
o Approval or Denial Requirements.
o Appeal procedures.
o Proceeding with Foreclosure.
V. Case Updates:
• Foreclosure-Bankruptcy-Eviction. Many new cases. Things are changing dramatically.
o What you say during loan origination and loan modification discussions can and will be held against you. Learn how to protect from borrower claims.
o Trial Loan Modifications. Do they allow the borrower a right to a permanent modification?
o Evictions after AB 2610 (Tenants Rights after Foreclosure). Can a tenant stay on forever after an eviction?
o Bankruptcy: Consumer Privacy Violations Claims. A new "cottage industry "for debtor's counsel. Are you subjecting yourself to lawsuits when filing a Proof of Claim and other documents in the BK Court?
"This firm knows what they are doing . SLG is an unique, pragmatic law firm: In this
rapidly changing legal environment, they keep me informed, protect our interests and
understand our business needs".
- Pat McCarty, Sr. VP Circle Bank
"I have attended the SLG presentation on Loss Mitigation, Where have we been and where are we going? It is a practical and effective overview of the loss mitigation process from workouts through evictions, with a focus on current and pending regulations. It is fast paced, practical and hits on issues that are relevant to lenders and servicers, and will help us better understand the current market realities and mitigate losses. I highly recommend this seminar"
-Steve Stone. Chief Financial Officer-First United Services Credit Union
Quick-Informative and Fun!
This webinar will save you from costly mistakes.
$79.00 All registrants
Recorded event: December 10th 2013. Now Available!
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The materials contained on this web site have been prepared as a public resource by Scheer Law Group, LLP, for informational and educational purposes only. The information is not legal advice and is neither intended to create, nor does receipt constitute, an attorney-client relationship. This web site contains general information on legal issues and is not a substitute for legal advice from a qualified attorney licensed in the appropriate jurisdiction. Please do not send confidential information or materials without first discussing directly, and entering into, an attorney-client relationship with us.
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