The rules of the road for residential mortgage servicing have continued to change since the end of the Home Affordable Modification Program (HAMP). New loss mitigation programs have been introduced, and the Consumer Financial Protection Bureau has updated federal mortgage servicing rules. This webinar will discuss these changes.
This intermediate-level presentation is geared to consumer attorneys with some experience representing homeowners and borrowers but will also provide a basic overview suited to attorneys interested in adding residential mortgage servicing cases to their practices.
What You Will Learn
- Recent changes to federal mortgage servicing rules, including rules regarding communications with borrowers in bankruptcy and protections for successors-in-interest.
- What loss mitigation options are available to borrowers with GSE, agency (FHA, VA, RHS) loans and privately owned loans.
- Strategies for protecting homeowners’ and borrowers’ rights under federal laws and regulations and agencies’ loss mitigation rules.
Steven Sharpe is a senior attorney in the Hamilton office of the Legal Aid Society of Southwest Ohio, LLC, where he represents borrowers facing foreclosure and taxpayers having disputes with the Internal Revenue Service. He previously worked at the Bloomington office of Indiana Legal Services, Inc., where he started advocating on behalf of low-income homeowners in 2005 with a two-year Skadden fellowship. He is a contributing author to the NCLC’s Foreclosures and Mortgage Servicing manual on issues related to FHA-insured loans, and he contributed a chapter on government-insured loans to Ohio Consumer Law (2016–17 ed.). Steve is a 2005 graduate of the Indiana University School of Law where he graduated magna cum laude and was the executive notes & comments editor of the Indiana Law Journal.
Lisa Sitkin is a senior staff attorney at National Housing Law Project (NHLP) in San Francisco, CA, where she engages in policy advocacy on behalf of low-income homeowners and renters and provides consultation, technical assistance, and practice resources in connection with mortgages and foreclosures. She has been practicing law since 1997. Prior to joining NHLP, Ms. Sitkin was a managing attorney at Housing and Economic Rights Advocates in Oakland, CA. Ms. Sitkin has counseled and represented individual clients, participated in policy advocacy regarding mortgage servicing and foreclosure, and assisted with mortgage servicing and predatory and unfair lending litigation. She has conducted numerous workshops and trainings regarding mortgages, foreclosures, loan modification, and foreclosure rescue scams, including programs produced by the Practicing Law Institute and the National Consumer Law Center, and she has testified before the California State Legislature and other governmental bodies regarding mortgage servicing and foreclosure issues. She is one of the original drafters of the bill that ultimately became the California Homeowner Bill of Rights.