Member: $265
Non-Member: $465
Speaker: Susan Costonis, Compliance Consulting & Training for Financial Institutions
This recording is from a 6-hour virtual seminar held on May 12 via Zoom. It includes COVID-19 guidance. The recording will come in four separate MP4 recordings.
Key factors of understanding the March 22, 2020 Interagency Statement on Loan Modifications for businesses impacted by the Coronavirus and the most current guidance will be included in this class. These topics include:
- What does “working prudently with borrowers” mean?
- What are the best practices of loan modifications, documenting the ability to repay, impacts of RESPA servicing rules, flood insurance requirements?
- How should delinquent loans be reported?
- How should real property inspections be handled?
- What are the expected impacts to appraised value?
- What is a troubled debt restructuring (TDR)? When is it required?
- What type of documentation should be required for justifying an accommodation for the borrower?
- What are some RED FLAGS for Fair Lending in this process?
- More employees will work remotely. This increases the RISK for security breaches and potential fraud. WHAT CONTROLS MUST BE IN PLACE?
- What are FOUR important Action steps that should be taken?
- What are some of the best options to work with borrowers?