Enforcement of Reg X and Z and Loan Modification Primer
Saturday, December 5, 2015
Marc Dann and Roberto Rivera will present this seminar for attorneys about integrating Regulations X and Z and thoughtful loss mitigation into a law practice. Nothing drives a loan servicer to the bargaining table faster than lawsuit against them. You'll see how quickly they settle your cases with investors' dollars, waive "unwaivable" restrictions or make your client the exception to the rule.
- Dual Tracking
- Not Responding to loss mitigation application in 30 days
- Not Responding to NOE or RFI (Accurately or Not at all)
- Failure to honor modification when servicer is transferred
- Repeated Request for DocumentsRequesting documents repeatedly for evaluation, then saying,“investor doesn’t do modifications."
- Not honoring a permanent modification after trial payments have been made.
- Misapplication of payments
- TILA violations on statements
- Pattern or Practice
- Federal Court, State Court?
- Considerations when filing an action?
- Practice Tips: Retainers, etc.
- GSE/FHA defaulted loans purchased by investors?
- Who decides how a loan is modified?
- Master Servicer…
- The guy down the hall…
- Offers without litigation!
- Performing a Proper Interview
- Getting the facts (Pre Submission RFI and NOE, Property Valuation and Credit Report)
- Reviewing the documents (Mortgage, Note, Mortgage Statement, Life of Loan History, Payoff Statement)
- Escrow Analysis
- Understanding Eligibility, Waterfalls and (NPV when required)
- Setting Realistic Expectations
- Servicer Obligations to loans in default.
- Submitting Application
- Complete application?
- Servicer Obligations when receiving applications
- Protections of DOJ Settlements, MHA guidelines, Reg X and Fannie Freddie when receiving application before foreclosure.
- Dealing with request for same documents over and over again.
- Trial offers…What now.
- TPP not over yet… Post TPP RFI
- Permanent Modification
- Dealing with Denials (Appeal v Resubmission)
- Protections of DOJ Settlements, MHA guidelines, Reg X and Fannie Mae when receiving a denial.
- Do you waive claims if you get a modification?
- Failure to provide information of all loss mitigation options available.
- Failure to provide list of missing documents.
- Requesting documents not required for evaluation.
- Inaccurate Denials… not applying guidelines accurately.
- Inaccurate mortgage statements
Interested? To register, simply fill out this form!
Location: 205 W Wacker Dr
Chicago, IL 60606
Chicago, IL 60606