Introduction to Mortgage Servicing Examinations Training - March 2023

Review

Exemptions Certain Consumers in Bankruptcy

•Consumer requests in writing to cease providing • Bankruptcy plan provides for surrender of dwelling •Court order – avoidance of lien or cease providing •Consumer files statement of intention to surrender dwelling • Exemption no longer exists if consumer reaffirms personal liability or requests to receive unless court orders cease

Review

Exemptions Successor in Interest •Not required unless/until successor assumes mortgage or provides servicer with acknowledgement not revoked

Charged Off Loans Reverse Mortgages Timeshares