Introduction to Mortgage Servicing Training - March 2024

Internal Use Only

Rules & Regulations  Servicer shall maintain policies & procedures reasonably designed to ensure that servicer personnel assigned to a delinquent borrower must be able to:  Provide accurate information  Retrieve information in a timely manner  Provide documents & information to other persons required to evaluate the borrower for loss mitigation options  Provide information about procedures for submitting a notice of error (§ 1024.35) or information request (§ 1024.36)

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Internal Use Only

Rules & Regulations  Servicing personnel must be able to retrieve in a timely manner:  A complete record of borrower's payment history; and  All written information borrower has provided to servicer, and if applicable, to prior servicers, in connection with a loss mitigation application  Servicing personnel must also be able to provide these types of documents to other persons required to evaluate the borrower for loss mitigation options

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