Description
Covers specific requirements for when servicers can purchase force-placed insurance, what guidance exists for fees, how servicers seek repayment of advanced premiums, and how servicers handle loans with force-placed insurance in foreclosure and the cancellation of force-placed insurance when it is no longer needed.
What You’ll Learn
After completing this course, students will be able to:
Identify to which loans the Servicing Rules force-placed insurance requirements apply and what insurance types constitute forced-placed insuranceDescribe how the Servicing Rules address FDCPA liability pertaining to debt collectionExplain the Servicing Rules’ notice requirements for force-placed insuranceDescribe the Servicing Rules requirements that pertain to handling force-placed insurance transactions
