ARLINGTON—Credit union lenders and servicers – especially those with loans in bankruptcy – can tune into NAFCU's March 27 webcast, "Changes to TILA/RESPA Mortgage Servicing Rules Affecting Bankruptcy," which will provide an overview of 2017 bankruptcy changes to the mortgage servicing rules.
These changes, which also adjust periodic statement requirements, go into effect April 18.
Last week, the CFPB issued a final rule aimed to help mortgage servicers communicate with certain borrowers facing bankruptcy. NAFCU had recently asked the Bureau to repeal its 2016 amendments to its 2013 mortgage servicer rule due to the conflicts it presents with current bankruptcy law.
The March 27 webcast, led by Spencer Scheer, partner with Scheer Law Group LLC, will cover which lenders and servicers are covered by the changes to the rules, what credit unions should and should not communicate after bankruptcy, how to comply with communicating with delinquent borrowers and the parameters around periodic statements, NAFCU said.
The webcast begins at 2 p.m.