How should we handle the periodic statement requirements once a customer has reaffirmed a loan after bankruptcy?
You must go back to providing regular periodic statements, however you would qualify for a “single-statement exemption”. As a result, you would not have to provide a statement for the billing cycle during which reaffirmation occurs.
Join us for the Mortgage Servicing Webinar on August 1, 2019. We will answer all the questions submitted during the live webinar, in writing.
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager.
Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelor’s Degree in Business Administration, and is a graduate of the ABA Compliance School.
Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!