Basics of Foreclosure Prevention and Loss Mitigation

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Basics of Foreclosure Prevention and Loss Mitigation

February 25 @ 10:00 am - 2:00 pm

If you want to help homeowners avoid foreclosure, you need to know “Who’s Who” and the types of documents, issues and entities involved when borrowers need options to cure a mortgage default. National expert Diane Cipollone will present an introductory level course for attorneys, paralegals and housing counselors in foreclosure prevention and foreclosure defense matters. Training will cover contractual issues related to the deed of trust, and the promissory note; types of promissory notes; identify the parties, including original creditors and assignees; the role of mortgage servicers, and options for home retention and other foreclosure prevention alternatives. Course materials will include sample documents and links to access publicly available mortgage servicing guidelines for FHA, VA and USDA loans, and loans owned by Fannie Mae and Freddie Mac, and other resources.
 
Additionally, staff from the Office of the Commissioner of Financial Regulation will review the residential mortgage foreclosure process in Maryland and provide an overview of the authority of the Commissioner of Financial Regulation. The Office of the Commissioner of Financial Regulation, a division of the Maryland Department of Labor, is Maryland’s consumer banking and financial services regulator. Supervised industries include mortgage lenders, loan originators and servicers; consumer and installment lenders; collection agencies; credit reporting agencies; credit service businesses; money transmitters; check cashers; and Maryland-chartered banks and credit unions.
 
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Details

Date:
February 25
Time:
10:00 am - 2:00 pm
Event Category:

Organizer

MVLS Law

Venue

Virtual