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Mortgage Servicing Policy

$175.00

The purpose of this Mortgage Servicing Policy Template is to supplement and expand upon a bank’s, credit union’s, or other type of financial institution’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”).  See more information about this product below.

Mortgage Servicing Policy

The purpose of this Mortgage Servicing Policy Template is to supplement and expand upon a bank’s, credit union’s, or other type of financial institution’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
  • Coronavirus Pandemic Applicability – Topic 13
  • Audit Policy – Topic 14
  • Staff Training – Topic 15
  • Retention of Documentation – Topic 16

Recent updates to this product:
07/01/20 Update
CFPB Issues Interim Final Rule on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
05/01/20 Update
Joint Release – Federal Agencies Encourage Mortgage Servicers to Work with Struggling Homeowners Affected by COVID-19
CFPB Bulletin 2020-02 – Handling of Information and Documents During Mortgage Servicing Transfers

This Mortgage Servicing Policy Template (approximately 39 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 Template.

Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.

When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.

Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.

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