CFPB Examinations of Mortgage Servicing Transfers: Understanding the Proposed Guidance
Overview:
The issuance of CFPB (Consumer Financial Protection Bureau) Bulletin 2013-01 earlier this year marks stepped up efforts to counter mortgage servicing transfer problems and address consumer protection concerns. Under the proposed guidance, CFBP will conduct examinations and continuous monitoring of servicing transfers to determine whether or not the mortgage-related transactions entered into by servicers (banks and nonbanks) are in compliant with consumer finance laws. The new regs will also require servicers to submit documentation on their risk management programs and they will require enhanced procedures in order to comply with the transfer-related aspects recently-issued servicing rules which are set to take effect in January 2014.
In light of this unprecedented change, finance executives, compliance officers and attorneys who practice in the mortgage industry and related segments must have a complete understanding of the proposed guidance. A panel of thought leaders and experienced practitioners organized by The Knowledge Group will offer a substantive discussion from a 360-degree perspective regarding this significant and game changing law. The speakers will present their opinions in a two-hour LIVE Webcast which will be concluded by a LIVE Q&A session.
Agenda:
SEGMENT 1:
Elizabeth Jordan, Director,
Deloitte & Touche LLP
General Overview
- Investing in or exiting a Transfer. 6 major considerations to Transfer
- How to Transfer
- Risk
- Regulatory consideration
- Transfer process
- Post Transfer practices
SEGMENT 2:
Michael J. Brauneis, CRCM, Managing Director, Regulatory Risk,
Protiviti
(After Choice to Transfer)
- The life cycle of a Transfer
- Practical guidance for Transfer i.e. selection of services, contracting services
- Monitoring the firm after execution of Transfer
SEGMENT 3:
John DelPonti, Managing Director, Valuation and Financial Risk Management Practice ,
Navigant
- Specific issues of Transfer
- Types of planning related to Transfer
- Real world things to due to avoid mortgage servicing transfers
SEGMENT 4:
David N. Anthony, Practice Group Leader,
Troutman Sanders LLP
- General overview of CFPB examinations
- Guidance from the CFPB on mortgage servicing transfer examinations;
- Four primary areas of focus for CFPB examinations;
- Written policy requirements and CFPB assessments for consumer risks;
- CFPB servicing rules to facilitate the transfer of information; and
- Servicing transfer risks
Liz has over twenty five years of consulting experience and her specialty is credit risk and operations management consulting across …
Michael Brauneis is a Managing Director in Protiviti’s Chicago office and one of the leaders of the firm’s national Regulatory …
Mr. DelPonti is a Managing Director in the Valuation and Financial Risk Management practice and based in the Washington, D.C. …
David is the co-leader of the firm’s Financial Services Litigation Practice Group and the firm’s Consumer Financial Protection Bureau Team. …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
134455
NASBA Field of Study:
Specialized Knowledge & Applications
NY Category of CLE Credit:
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
About Deloitte & Touche LLP
As a recognized leader in providing audit, tax, consulting and financial advisory services to the banking industry, Deloitte serves 90 percent of the largest banks and thrift holding companies, 87 percent of the top 15 mortgage originators and 93 percent of the top 15 mortgage servicers. Our multi-disciplinary approach allows us to provide regional, national and global services to our clients. Our banking and securities practice is recognized for bringing together teams with diverse experience and knowledge to provide customized solutions for clients.
About Protiviti
Protiviti is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through our network of more than 70 offices in over 20 countries, we have served more than 35% of the FORTUNE® 1000 and Global 500 companies. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies.
About Troutman Sanders LLP
Troutman Sanders LLP is an international law firm with more than 600 lawyers and offices located throughout North America and in Asia. Founded in 1897, the firm’s lawyers provide counsel and advice in practically every aspect of civil and commercial law related to the firm’s core practice areas: Business Law, Energy and Industry Regulation, Finance, Litigation and Real Estate. Firm clients range from multinational corporations to individual entrepreneurs, federal and state agencies to foreign governments, and non-profit organizations to businesses representing virtually every sector and industry. See troutmansanders.com for more information.
Website: https://www.troutmansanders.com/