Unfortunately, the last couple years have seen many borrowers default on their mortgage loans, forcing lenders and servicers to consider foreclosing. With the many moratoria against foreclosing now having expired, lenders and servicers have seen many foreclosures initiated in a very short period of time. This trend is expected to continue. What are you permitted to do? What notices must be provided? The loss mitigation and foreclosure process is by its nature a state-specific endeavor, but there are federal requirements as well. The CFPB and other federal agencies have instituted numerous requirements that must be met before foreclosures can be initiated.

• The nature of foreclosing – what happens?
• Critical servicing requirements when a loan defaults prior to foreclosing
• Timing requirements
• Notice rules
• Federal agency mandates and rules before/during foreclosure
• Tax reporting
• General discussion on state laws and rules
• Additional regulatory requirements