Laws regulating loan servicers are designed to protect borrowers and create potentially lucrative opportunities for the Plaintiffs’ bar at an extraordinary expense to the lender/servicer. Find out how to identify or deal with seven major mistakes made by servicers and avoid creating disasters. Problems including failed loan modifications, TPP (trial payment plan) failures, allegations of dual tracking, potential errors by servicer personnel and wrongful foreclosure accusations will be covered. We’ll also discuss issues such as failure to properly respond to borrower’s requests for information, failure to adequately document communications with the borrower, and potentially damaging servicer/borrower interactions.
Once a loan goes into default there is a significant probability that the loan will ultimately be foreclosed. However, the servicer should anticipate and prepare for the borrower’s efforts to stop the foreclosure sale by litigation and/or bankruptcy so that if required, the loan can be foreclosed. The servicer may also have the ability to tender any litigation to the lender’s escrow agent and/or title insurer, depending on the circumstances.
Loan servicers and lenders cannot afford to miss this critical webinar!
