Mortgage Servicing Policy
This Mortgage Servicing Policy is for a bank, credit union, fintech company, or other type of financial institution to supplement and expand upon an organization’s Mortgage Loan Policy by complying with all requirements and provisions of the Mortgage Servicing provisions of Regulation X, the Real Estate Settlement Procedures Act (“RESPA” or the “Act”).
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- General Disclosure Requirements – Topic 3
- Mortgage Servicing Transfers – Topic 4
- Timely Escrow Payments and Treatment of Escrow Account Balances – Topic 5
- Error Resolution Procedures – Topic 6
- Requests for Information – Topic 7
- Force Placed Insurance – Topic 8
- General Servicing Policies, Procedures and Requirements – Topic 9
- Early Intervention Requirements for Certain Borrowers – Topic 10
- Continuity of Contact – Topic 11
- Loss Mitigation Procedures – Topic 12
- Audit Policy – Topic 13
- Staff Training – Topic 14
- Retention of Documentation – Topic 15
Recent updates to this product:
04/01/24 Update
Deletion of guidance regarding Coronavirus/COVID-19 applicability.
This Mortgage Servicing Policy (approximately 38 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
NOTE: The complete contents of this product are also included within the Regulation X Policy.
Product Update Protection Plan
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