Nanci Weissgold was a featured speaker during this webinar program hosted by American Banker. On September 29th, a top 20 servicer was ordered to pay out $37.5 million for failing to follow the new mortgage servicing rules. And so a new era has begun. Continued servicing problems are calling for continued clarification around the January 2014 rules and more importantly how to implement those rules. A month prior, a bulletin from the CFPB detailing specifically what’s expected when transferring mortgages makes it clear that servicing is definitely on the hot seat and another round of rulemaking is potentially not too far off. The following topics were covered during the program:
- Issues that are calling for further guidance, including servicing transfers, rolling delinquencies and dual tracking, among others
- Rules getting the most attention and how to make sure you’re in compliance
- Where the agency may go next and what to expect in 2015
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December 10, 2014