Allyson Baker will present "Meeting the Operational Demands Associated With Increased CFPB Supervision of Loan Servicing Transfers" at the American Conference Institute's 2nd Bank and Non-Bank Forum on Mortgage Servicing Compliance in Dallas, TX on June 25, 2014. She will cover the following topics:
- What do the new CFPB rules require with regard to:
- Managing and addressing consumer risks related to loan servicing transfers
- The submission of pre-transfer “informational plans”
- The staffing and training of employees responsible for handling servicing transfer communications and processes
- How has the industry responded and what enforcement and/or litigation trends have arisen from these new requirements?
- What supervisory and/or enforcement action has the CFPB been taking against servicers found to have engaged in acts or practices that are unfair, deceptive, or abusive, or that otherwise violate federal consumer financial laws and regulations as they apply to loan servicing transfers? What types of corrective or remedial measures can servicers expect to endure from the CFPB under such circumstances?
- How have the new CFPB servicing rules raised barriers to entry for new servicers?
- What implications have these barriers had (or what implications are they likely to have) on current servicer operations, practices and procedures?
- Employing aggressive growth strategies in light of the lack of competition
- Managing the increased operational risks that come with expanding your business
- Best practices for hiring and training new staff, and implementing and maintaining compliance systems/internal controls, etc.
Click for information and to register for the 2nd Bank and Non-Bank Forum on Mortgage Servicing Compliance.