Introduction to Mortgage Servicing Examination Training eBook

Internal Use Only

Review

Verify cancellation

 Within 15 days of receiving

Last known coverage Was account escrowed?

 If yes, review escrow documents Borrower responses/communication

Internal Use Only

Model Disclosure Forms

Form

Purpose

Force-Placed Insurance Model Form – MS-3(A) Force-Placed Insurance Model Form – MS-3(B)

Disclosure to borrower at least 45 days prior to servicer assessing a fee for FPI (§ 1024.37(c)(2)) Disclosure to borrower at least 15 days prior to servicer assessing a fee for FPI (§ 1024.37(d)(2)(i)) Disclosure to borrower after submission of insufficient hazard insurance coverage (§ 1024.37(d)(2)(i)) Disclosure to borrower at least 45 days prior to servicer assessing a fee related to existing FPI (§ 1024.37(e)(2))

Force-Placed Insurance Model Form – MS-3(C)

Force-Placed Insurance Model Form – MS-3(D)