Introduction to Mortgage Servicing Examinations Training - March 2023

requests for PMI termination 3. Automatic termination of PMI 4. Final termination of PMI 5. Exceptions to Cancellation/Termination for High ‐ Risk Mortgages

 12 U.S.C. § 4903  12 U.S.C. § 4904

CFPB Homeowners Protection Act Exam Procedures

6. Treatment of loan modifications 7. Return of unearned premiums

Servicing Transfers 12 C.F.R. § 1024 – Real Estate Settlement Procedures Act

Does the servicer have a servicing transfer policy that addresses: 1. Facilitating transfer of information during servicing transfers 2. Content and timing of notice of transfer 3. Handling of borrower payments during transfer of servicing 4. Handling of loss mitigation during transfers 5. Handling of partial payments 6. Successors in interest 7. Record retention

 12 C.F.R. § 1024.33  12 C.F.R. § 1024.38

12 C.F.R. § 1026 – Truth in Lending Act  12. C.F.R. § 1026.39

CFPB RESPA Exam Procedures

CFPB TILA Procedures

Year ‐ End Statements

26 U.S.C. § 6050H

Does the servicer have a policy that addresses issuance of year end statements: 1. Issuance of Form 1098 2. Timing and method of delivery