Introduction to Mortgage Servicing Training - March 2024

MATCH THE RATING TO THE EXAMPLES PROVIDED

Servicer has a complete disregard for maintaining policies and procedures and management is absent in monitoring practices that lead to significant consumer harm. Servicer has been subjected to a forced transfer of its portfolio.

SERIOUSLY DEFICIENT

Servicer is ineffective at managing risks through its policies and procedures which are not updated timely or comprehensive in nature. Servicer is subject to reputational risk from regulatory enforcement actions.

CRITICALLY DEFICIENT

53

MATCH THE RATING TO THE EXAMPLES PROVIDED

Servicer has a complete disregard for maintaining policies and procedures and management is absent in monitoring practices that lead to significant consumer harm. Servicer has been subjected to a forced transfer of its portfolio.

SERIOUSLY DEFICIENT

Servicer is ineffective at managing risks through its policies and procedures which are not updated timely or comprehensive in nature. Servicer is subject to reputational risk from regulatory enforcement actions.

CRITICALLY DEFICIENT

54