Domino Effect: Understanding the Impact of the Foreclosure Settlement CD Only
An Inside Mortgage Finance Webinar
Recorded March 27, 2012
The specifics of the landmark settlement on foreclosure abuses surfaced were released recently, and industry experts are plowing through the thousands of pages of legal documents associated with the $25 billion deal between the country’s top five bank mortgage servicers and 49 state attorneys general. Let Inside Mortgage Finance do your research into the massive settlement – specifically what it may mean for all state-regulated mortgage market players – in this webinar recording.
Iowa Attorney General Tom Miller, who led the investigations and negotiations in the settlement, is headlining this must-attend webinar and will discuss how the foreclosure agreement will trickle down to all servicers and what AGs will be looking for going forward.
Listen to some of AG Tom Miller's remarks from the webinar:
Also on the webinar panel are two of the top mortgage legal experts in the country – Larry Platt from K&L Gates and Rich Andreano from Ballard Spahr – who can explain the difference between the borrower relief provisions and the servicing standards in the landmark foreclosure agreement. Will the latest servicing requirements become national standards? And what will these new developments mean for smaller firms looking to get into or grow their mortgage servicing business?
Get the answers to these and other questions…
- Are smaller firms going to be priced out of servicing or out of business?
- What else are the regulators looking for? What are the exceptions?
- Why is it that a $25 billion agreement may actually provide close to $40 billion in borrower relief?
- How will the dollar-for-dollar or just cents-on-the-dollar “credit” to the banks be calculated?
- How do the agreement terms impact those who are not part of the settlement? What trickles down?
- How much of the dollar award to the states must go to mortgage relief?
- How will private investors be affected by the agreement’s terms?
- What are the likely long-term ramifications of altering and modifying standard business practices?
- How might a loan modification on a Fannie Mae or Freddie Mac loan be included?
- What powers will the federal monitor have to oversee the process and try to reduce red tape?
- Who’s going to make smaller players abide by new servicing standards?
- What do industry players need to know about principal reduction and refi programs?
These industry experts will shared their insights and answered questions:
Richard J. Andreano Jr.
Mortgage Banking Group Practice Leader
Ballard Spahr LLP
State of Iowa
Laurence E. Platt
Financial Services Practice Area Leader
K&L Gates LLP
CEO & Publisher
Inside Mortgage Finance