Escrow Compliance – Be the One Who Understands It All! - 2023
Presented by
Rebekah Leonard, CRCM
Recorded on July 13, 2023
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Do you provide escrowing services for the payment of taxes and insurance on consumer real estate loans? RESPA doesn’t require that you do so… only that you follow strict rules if you do. However, if your bank makes mortgage loans, you likely escrow for taxes and insurance too. It makes good banking sense. Ensuring that consumer borrowers have the funds to pay taxes and insurance isn’t just a helpful customer service – it protects your lien position and collateral.
The business of escrowing for taxes and insurance is a high-stakes endeavor. Getting it wrong causes consumer harm and potential reputational damage. Failing to accurately pay taxes when due will cause fines and penalties, and make your bank look inept in its fiduciary capacity. Failing to accurately disclose escrow items or properly analyze escrow accounts will bring regulatory violations and upset borrowers. There is a lot on the line!
Escrow rules are numerous. This webinar will cover them all:
Join this 2-hour webinar to get the facts you need to know, to be better informed and prepared to manage your escrow compliance program. All topics will be presented clearly and consisely, from the perspective and real-life experience of a veteran compliance pro (25 years!) who, like you, is currently working in the trenches of her bank as the voice of compliance.
WHO SHOULD ATTEND:
Compliance staff, loan administration / production staff, mortgage loan staff, loan officers and audit staff.
Rebekah Leonard, CRCM
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Slides
Annotated LE and CD from CFPB
cfpb_mortgage-servicing_frequently-asked-questions_2023-04
Sample escrow analysis arithmetic - Appendix E example
Section 35 HPML info sheet 2-2023
Questions and Answers