Introduction to Mortgage Servicing Examination Training eBook

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Exemptions

Small Servicers

•Periodic statements not required •Services 5,000 or fewer loans (including affiliates) •Housing Finance Agency •Non-profit entity services 5,000 or fewer loans (including associated non-profit entities)

Internal Use Only

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