Mortgage Servicing Policy
The purpose of this Mortgage Servicing Policy Template 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
- Coronavirus Pandemic Applicability – Topic 13
- Audit Policy – Topic 14
- Staff Training – Topic 15
- Retention of Documentation – Topic 16
This Mortgage Servicing Policy Template (approximately 42 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.
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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.
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