Loss Mitigation: The Rules Have Changed


house at risk


New federal rules on mortgage servicing can help homeowners avert disaster.  But they only help if advocates know the latest.

John Rao and Tara Twomey return next week with Part II of  a free webinar on the new federal rules on loss mitigation for home mortgages.

The Consumer Financial Protection Bureau issued new regs, effective January 10, 2014, implementing provisions of the Dodd-Frank bill.  Almost without exception, the changes in the mortgage servicing field are borrower friendly.

Part I dealt with force-placed insurance, new QWR-like “requests for information”, and the shortened timelines servicers have to respond to inquiries under RESPA.  There are some TILA changes thrown in, too.

You can sign up here for the 90 minute exploration of loss mitigation under the new regs .

Date is January 23, 2014 at noon, PST.  CA CLE credit is available.

I see helping homeowners with mortgage servicing troubles to be a skill set well worth having.  And, did I say the training is free?

Image courtesy of Flickr and Seattle Municipal Archives.

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