Learning Lab 3.0 builds on the foundation of USFN's Learning Lab series by providing the Basic Formula for Avoiding Delays, Errors & Disputes in four distinct topics covering borrower communications, title issues, payoffs and reinstatements, and contested issues. Go in-depth with USFN industry leaders to help solve your default servicing issues and gain valuable insights you can use both in your everyday experience and in your professional development in mortgage servicing.

LEARNING LAB 3.0: THE BASIC FORMULA SESSIONS

Communication

Module 1: Finding the Communication Zenith Among Borrowers, Firms & Servicers
We’ll explore how to improve communication between servicers, law firms, and borrowers. We’ll tackle possible pitfalls related to successors-in-interest and the Servicemembers Civil Relief Act. We’ll also analyze how to cooperatively handle qualified written requests, consumer complaints, and threats of litigation. Finally, we’ll review best practices for handling ongoing pandemic-related issues.

Successors in Interest & Potential SIIs​
  • Special Issues related to Reverse Mortgages
Qualified Written Requests
  • Notices of Error
  • Requests for Information
SCRA
  • Do's and Don’ts
  • Importance of Communication Pipeline Between Servicer/Law Firm
  • DOD Searches: Name Variations
Preventing & Dealing with Consumer Complaints & Inquiries
  • State AGs & Other Federal & Local Representatives
  •  CFPB
  • Bar Complaints & Requests for Sanctions
  • Threats of Litigation
 Pandemic-related issues

Title Issues

Module 2: Understanding Title Issues​
This module features an overview of the title claim process and select investors’ requirements for title resolution. We’ll discuss effective non-judicial methods of curing major title defects. We’ll also take a look at common mortgage execution issues and scenarios involving easements, encroachments, and lack of access, and detail how best to resolve these problems.
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Title claim process
  • Indemnification
  • No loss letter
  • Right to choose counsel
​Investor requirements
What are some ways to cure major issues non-judicially?
  • Breaks in the chain (ownership)
    • ​Record death cert/affidavit or t/e or JTWROS
    • Obtain missing deed
    • Obtain corrective deed
    • Re-execution of DOT/mortgage
    • Obtain easement
  • Break in the chain (beneficiary/mortgagee)​
    • ​Missing assignments
Liens where a release cannot be obtained and indemnity is not acceptable
  • If you’re in a judicial state, just add to petition
  • If you are non-judicial, JFC to meet FLAD?
 Mortgage execution defects
  • Omitted marital interest
  • Omitted owners
  • Missing legal descriptions
  • Unrecorded mortgage
  • Erroneous release/satisfaction
Access/encroachment/easement issues
Pandemic-related issues

Register today for Learning Lab 3.0: The Basic Formula

Learning Lab 3.0 modules are currently free to attend and geared toward those in the default servicing industry with zero to five years experience, or to anyone who has completed the Learning Lab 1.0 and/or 2.0 modules. The
​45-minute sessions are presented live followed by an optional 15-minute Q&A segment. ​

Payoffs & Reinstatements

Module 3: Avoiding the Pitfalls in Payoffs & Reinstatements
Module 3 examines the potential perils in the world of payoffs and reinstatements. We’ll provide a basic overview of the request process for reinstatement and payoff figures, what can and cannot be included in said amounts, and what special considerations need to be made. We’ll also delve into the definition of “good funds” and the timing issues attendant to various funding methods. Lastly, for situations in which errors are made with respect to payoff/reinstatement quotes and/or payments tendered, we’ll provide guidance regarding how to most efficiently resolve such mistakes.
Requests for figures
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Who is requesting?
  • Borrower
    • ​Successor in interest
  • 3rd party (junior lien holder, realtor, relative, etc.)
    • ​FDCPA ramifications - written authorization
​What is being requested?
  • Payoff
    • ​Reg X timing requirement
  • Reinstatement
    • ​State law requirements timing/right to cure/reinstate
 Good through date
  • How to determine?
    • ​Is there a foreclosure sale date set?
    • FHA loans - interest calculation
Estimates
  • Can estimates be included?
  • Costs to be incurred prior to the expiration of the good through date
  • FDCPA ramifications
How are figures provided?
  • Orally
  • Written
Payment methods/timing
  • Can there be limitations placed on the types of acceptable funds
    • ​Cash/personal check/certified funds/wires/other
Timing of receipt of funds
  • Received before the cutoff date
  • Received on time
  • Received after the cutoff date
  • Returning the funds/keep the funds
Incorrect figures provided
  • Shortage - funds received
  • Overage – funds received​
 Internal communication upon receipt of funds
  • Sale date
  • Notifying counsel
Pandemic-related issues

Contested Issues

Module 4: Contested Issues
In this module, we’ll break down the issues associated with contested default management. We’ll define and analyze contested cases in both judicial and non-judicial contexts. We’ll take a look at common pleadings used in judicial matters, along with standard defenses presented by borrowers. We’ll conclude our deep dive with a discussion of documentation issues and a look forward to possible litigation on the horizon involving Reg. X compliance.
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What constitutes a contested case?
  • Judicial
  • Non-Judicial
  • Delay Defense Practice
    • Easy depending on jurisdiction
  • Substantive Defenses
Pleadings
  • Case is framed within the pleadings
    • Standing
  • Motion Practice
    • Motion to Quash – Service
    • Motion to Dismiss – Pleadings
    • Motion for Summary Judgment
  • Counterclaims
Defenses
  • Origination Issues
  • Payment Issues
  • Priority Issues
Documents – “Why we should always win?”
  • Business Records
  • Original Documents / Original Note
  • Assignments
  • Affidavits
Post-pandemic Issues
  • Compliance with Reg X – Servicing Issues
STANDARD POLICIES
Communication
USFN seminars are created to foster open and candid communication between mortgage service industry professionals, USFN member attorneys and associate members. In order to retain the security, integrity and purpose of the sessions, USFN maintains the following policies:
  • Audio and/or videotaping of any part of the seminar series is prohibited.
  • Members of the media are not permitted to attend.

Content Disclaimer
All content, presentations, handouts, emails, website content, mobile app content, etc. provided by USFN in its publications, in connection with USFN events and otherwise (“Content”) is for educational purposes only, and should not be considered legal advice or a legal opinion. Every matter is different and poses a unique set of facts and circumstances. Legal advice can only be provided after analysis of all the facts and circumstances of a particular matter. In addition, all Content is current only through the date it is provided, and may change after that date due to changes in the law, custom, industry standards or best practices. We suggest that you consult with your USFN local counsel if you wish to retain a firm to provide legal advice on a particular issue or matter. Please do not hesitate to contact USFN for contact information for our firms for that purpose.

Attendee Contact Information
By registering for this event, I authorize my name, title and organization name to appear on event registration lists that is available to USFN members and event attendees.

Substitutions
Substituting a colleague within the same organization is gladly accepted at no charge. All requests for registration substitutions must be made in writing to register@usfn.org. Only one substitution is permitted per original registrant. The individual submitting the substitution request is responsible for all financial obligations (any balance due) associated with that substitution. Badge sharing (two people attending an event using only one registration), badge splitting (one registration being split by two people; commonly one attending in the morning and the other attending in the afternoon), and badge reprints are strictly prohibited.

CLE
USFN will NOT apply for CLE for this event. 

Questions
If you have any questions and/or concerns regarding any of the above mentioned Event Policies, please contact the USFN Registration Team via email at register@usfn.org.