Unfortunately, the last couple years have seen many borrowers in trouble, whether because of residual pandemic issues or the result of a general economic downturn. And this sadly means many borrowers have defaulted on their mortgage loans, forcing lenders and servicers to consider foreclosing. And with the many moratoria against foreclosing now having expired, lenders and servicers have seen many foreclosures initiated in a very short period of time. This trend is expected to continue. What are you permitted to do? What notices must be provided? The loss mitigation and foreclosure process is by its nature a state-specific endeavor, but there are federal requirements as well. The CFPB and other federal agencies have instituted numerous requirements that must be met before foreclosures can be initiated.
Who Should Attend
Anyone in the institution involved in mortgage servicing, default management, loss mitigation, and related areas that has responsibilities around the foreclosure process. This may include compliance professionals, risk management professionals, attorneys and legal staff, management, back officer operations, and any other party involved in this process.