Reg. X - Understanding the CFPB Mortgage Loan Deferrals Webinar
Thursday, August 6
10 am
In a significant move for mortgage servicers and mortgage loan borrowers impacted by the COVID-19 pandemic, the CFPB recently issued an interim final rule that will, among other things, enable servicers to more easily offer a payment deferral option. The rulemaking provides specific parameters for what qualifies as a COVID-19 payment deferral and, provided that those criteria are satisfied, a servicer will be able to offer it without first collecting a complete loss mitigation application or risking a violation of Regulation X’s anti-evasion clause. This new CFPB rule will have a significant impact on the mortgage servicing industry and should help mortgage servicers of both GSE and portfolio loans
This webinar will explain what is in the CFPB’s interim final rule so that you can effectively implement a deferral option for GSE and portfolio loans alike. The webinar will also address some of the key compliance considerations for servicers implementing the new rule, and will further provide takeaways for servicers so as to ensure their operations are in line with applicable law.
Speakers:
Jason Bushby provides regulatory compliance, enforcement, and litigation assistance to a range of financial services clients across the country. On the compliance and enforcement side, Jason assists numerous clients as they bring their operations into compliance with various obligations imposed on them by the Consumer Financial Protection Bureau (CFPB), including the Mortgage Servicing Final Rules in Regulations X and Z and the TILA-RESPA Integrated Disclosure Rule. He also advises clients on compliance matters related to a host of federal and state regulations, including TILA, RESPA, FCRA, and the Equal Credit Opportunity Act (ECOA). Jason has advised some of the nation’s largest financial institutions in all aspects of their CFPB examinations. Jason serves as counsel to the American Bankers Association and general counsel to the Alabama Consumer Finance Association.
Jonathan Kolodziej represents all types of consumer financial service providers in regulatory compliance, examination and enforcement matters. Through this work, he has assisted bank and non-bank mortgage servicers, mortgage originators, debt collectors, depository institutions, credit card issuers, small dollar lenders, reverse mortgage companies, investment firms, and various industry trade associations.
Jonathan’s regulatory compliance practice centers around helping clients ensure that their operations are in compliance with applicable federal and state consumer financial laws. In this role, he helps clients assess the impact of new rules and regulations and adapt to changes in the regulatory environment. He is also a frequent speaker during webinars and trade association presentations on regulatory compliance issues.
Fee:
_____ $65 for MBA members
_____ $130 for MBA non-members
To register, click here to start the pre-populated email to Lori Richardson. If you have questions, or the email does not open, email Lori at lrichardson@msbankers.com.