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.
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar, or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups, and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.
Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!