Introduction to Mortgage Servicing Training - October 2023

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

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Internal Use Only

Review

Exemptions Successor in Interest • Not required unless/until successor assumes mortgage or provides servicer with acknowledgement not revoked

Charged Off Loans Reverse Mortgages Timeshares

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