We take education seriously.
At Total Lender Solutions, we understand how overwhelming our industry can quickly become when borrowers face financial difficulties and can’t fulfill their commitments. Laws are constantly changing requiring lenders to look for credible resources to guide them properly through these complicated processes. That’s why Total Lender Solutions takes the initiative to do our research and stay up-to-date with current rules and regulations – so you don’t have to.
By offering in-house seminars, we are committed to educating our audiences about the foreclosure process and other important topics in the industry. Total Lender Solutions will act as an extension of your office, offering your team an educational presentation covering a variety of subjects, including:
- Foreclosure Process
- Bankruptcy Procedures
- Deeds in Lieu of Foreclosure
- UCC Foreclosures
- Compliance with Municipal Ordinances
Industry News & Education
Originally posted on AAPLonline.com. When used properly, a DIL can be a great option for lenders seeking to avert foreclosure. Given the current economic uncertainty, unprecedented unemployment and number of loans in default, lenders should properly review, evaluate and take appropriate … Read More
Learning from the experts can help you avoid fines and/or penalties
Lender Discovers Defective Notices During Pre-Foreclosure Presentation
Prior to starting a foreclosure, both the state and federal governments have enacted pre-foreclosure procedures with which either the lender or servicer must comply. Doing so properly is vital to ensure that borrowers are given the appropriate information at the appropriate times and that lenders or servicers are compliant in order to avoid fines and/or penalties.
A small institutional lender client in California asked us to conduct a refresher workshop for pre-foreclosure activities and the foreclosure process. We prepared a detailed overview of the requirements and timing of the notices required by the Dodd-Frank Act as well as the California Homeowners’ Bill of Rights.
During the presentation, it was discovered that the lender’s notices and its counsel did not comply with the information requirements of Dodd-Frank. We worked with the lender to update their compliance procedures to ensure that they were in alignment with with both federal and state laws. We helped our client avoid serious penalties from the government and exposure to lawsuits by borrowers. The potential cost savings to the lender is incalculable.
Our Key Solutions:
- Pre-Foreclosure Process Education
- Notice Review
- Federal/State Law Compliance
- Penalty Avoidance