Can you force place hazard insurance on a consumer loan secured by a dwelling and if so, how do you go about doing it?
To answer this question, we need to look at what we call the Mortgage Servicing rules. These “rules” are actually a combination of some Truth in Lending requirements and some Real Estate Settlement Procedures Act requirements.
Listen to the video as Jerod explains the requirements for force placing hazard insurance.
If you’re looking for answers to your mortgage servicing questions, we have a solution for you! Be sure to join us on August 1st for a two-hour webinar on Mortgage Servicing where we will address each one of the Truth in Lending Act and RESPA servicing requirements and give you back the translation in what we like to call, plain English.