Changes to TILA/RESPA Mortgage Service Rules Webinar April 19, 2018

Changes to TILA/RESPA Mortgage

April 19, 2018 Changes to TILA/RESPA Mortgage Service Rules: Periodic Statements in Bankruptcy. What you must know, before it is too Late.

Fire Drill
  • A MUST ATTEND event for Lenders and Servicers with Loans in bankruptcy
Fire Drill
  • This Could be the Most Important Webinar you attend all Year!
Webinar Date: April 18, 2018 (Day before the changes take effect).

Presenter: Spencer Scheer, AV Rated Attorney, nationally known speaker and Managing Partner of Scheer Law Group, LLP.

Time: 11:00 PST 2:00 EST

Cost: SLG Clients $75.00

All other Attendees: $150.00

Reserve at:

Special Discount: See Footnote 1 below
Session Description:

Background: There are dramatic changes to the national mortgage servicing rules affecting lenders and servicers with loans in bankruptcy. Initial changes re early intervention were effective in October of last year. Bankruptcy periodic payment statement changes are effective 4.19.18!

Loss mitigation and periodic statement communications are now mandated to borrowers in bankruptcy. This will result in costly lawsuits and class action liability to covered lenders who communicate wrongfully or inaccurately. The interaction of FDCPA limitations and charge off restrictions with the new rules mandate comprehensive planning and implementation. This last chance review will help you avoid costly mistakes.

Overview of Webinar:

  • Overview of early intervention changes enacted on 10.19.17, and upcoming changes re periodic statements in bankruptcy, effective April 19, 2018.
  • Failure to prepare will result in costly lawsuits.
  • Which lender/servicers are covered for the changes?

Early Intervention Requirements:

  • Live and Written Contact Requirements: Covered lender/servicers are now required to communicate with delinquent borrowers after a bankruptcy is filed. How to comply without violating the automatic stay.
  • Impact of the FDCPA on Communications: What about a borrower that sends you an FDCPA cease and desist advisement? Do you still need to comply with early intervention rules?
  • Successor Claims: Learn when you must communicate early intervention information to a deceased borrower’s successors.

Periodic Statements:

  • Overview: Covered lender/servicers are now required to send detailed periodic statements. These statements can and will be used against you. Stay violations will occur if you do not account properly.
  • Chapter 13 an In-depth Review: Must give a month to month accounting on pre-and post-filing payments.
  • Are you exempt from providing statements because of what the borrower has proposed in the bankruptcy?
  • How do you apply payments?
  • Impound accounts, conduit plans, Chapter 20s, An” accountant’s nightmare.”
  • How do you avoid lawsuits based on improper application of payments and claims of improper accountings during the BK?
  • What about charged off loans? The impact of the new regulations is not just on periodic statement requirements. Can you accrue, during and after a bankruptcy? You will be surprised.

Continuation of Communications After Bankruptcy:

  • Payment communications still required in many instances after discharge.
  • Learn when to “turn on, turn off” or suspend periodic statements.
  • Learn what to say and what not to say when continuing communications.
  • Discharge violations will skyrocket. How to avoid liability.

Real World Examples: Mr. Scheer will provide accounting scenarios for you to compare to your staff readiness plans, to see if you should rest easy, or stay up at night and worry.

1Shameless promotion from Managing Partner, Spencer Scheer: Anyone purchasing the latest release (either CD or download of CD) from Factor 11 (Scheer’s band) from : CD Baby ; or go to the iTunes store and type in Factor 11 , and providing a proof of purchase of the CD from March 30- April 17, to SLG, at [email protected], will receive a 20% rebate of your webinar fee via check from SLG. We understand that this is shameless, but it is fun.

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