Mortgage Defaults:  Workouts, Alternatives, Foreclosures, Short Sales & More

Wednesday, February 1, 2023 
11:00 am – 12:30 pm Eastern

There’s good news and bad news.  Bad news: a mortgage loan is going into default.  Good news: there are several options available depending on the situation, including workouts, foreclosures, short sales, etc.  Use this webinar to sharpen your mortgage default skills and processes and save your institution from further loss.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Determine which alternative is best for the situation – workout, forbearance, deed in lieu, short sale, or foreclosure
• Understand the proper legal steps required for each option
• Utilize the key principles of prudent real estate workouts
• Explain when a residential borrower becomes delinquent and the timing restrictions on residential mortgage foreclosures
• Grasp the “successor in interest” rules, including transfers caused by death, divorce, trust, or gift, and who qualifies as a “successor in interest”
• Take steps to avoid regulator criticism 

WEBINAR DETAILS 

Commercial and residential real estate loan problems appear to be on the rise.  There are several alternatives to consider when dealing with troubled commercial and residential real estate loans, including workouts, forbearance, deeds in lieu, short sales, and foreclosures.  Each option poses a certain amount of risk exposure, and making a mistake could result in losses that far exceed the loan amount.  This webinar will explain all aspects, risks, and proper steps for each alternative so you can properly evaluate which is best for each situation.  It will also explain the legal and compliance rules that apply to commercial and residential real estate foreclosures, including the special rules when dealing with residential property.

This informative session is designed for staff involved in the real estate loan and collection process, such as loan officers, workout officers, loan operations personnel, collectors, attorneys, compliance officers, and managers.

TAKE-AWAY TOOLKIT

• Proposed Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts
• CFPB’s Mortgage Servicing Rules - Small Entity Compliance Guide
• Employee training log
• Interactive quiz
• PDF of slides and speaker’s contact info for follow-up questions
• Attendance certificate provided to self-report CE credits

SPEAKER

Elizabeth Fast, JD, CPA
Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Financial Education & Development

If you are having issues with registering online, please contact CBAO's Education, Training & Special Events Coordinator, Malia Widder, (614) 610-1877.