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December 3, 2014
Overdrafts: Latest Regulatory Feedback, Guidance & Best Practices Webinar
David Dickinson and Jerod Moyer

December 4, 2014
Freebies, Bonuses and Contests
John Burnett and Andy Zavoina

December 9, 2014
Bankruptcy: Creditor Do's and Don'ts
Sam Ott

December 10, 2014
Branch Audits: What Is Going On Out There?
Patricia Cashman

December 17, 2014
Integrated Disclosures - An Implementation Strategy
Mary Beth Guard and Jack Holzknecht

December 18, 2014
Loan Review Best Practices for a Community Bank
Bob Fritzlan

December 19, 2014
PREPAID PRODUCTS - Understanding the CFPB Proposal
John Burnett



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#1586036 - 08/01/11 04:04 PM change in term
nikki_compliance Offline
Gold Star

Registered: 03/19/10
Posts: 464
Loc: NM
we are wanting to do a change in terms to extend a payment to months out, customer is set up on an escrow accounts and has accrued interest (one month payment past due) would negative ammortization be an issue if we tried to do this also would we have to do anything with the escrow account?

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Lending Compliance
#1586126 - 08/01/11 06:30 PM Re: change in term [Re: nikki_compliance]
nikki_compliance Offline
Gold Star

Registered: 03/19/10
Posts: 464
Loc: NM
anyone????

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#1586157 - 08/01/11 08:01 PM Re: change in term [Re: nikki_compliance]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 50640
Loc: Galveston, TX
(2) No annual statements in the case of default, foreclosure, or bankruptcy. This paragraph (i)(2) contains an exemption from the provisions of Sec. 3500.17(i)(1). If at the time the servicer conducts the escrow account analysis the borrower is more than 30 days overdue, then the servicer is exempt from the requirements of submitting an annual escrow account statement to the borrower under Sec. 3500.17(i). This exemption also applies in situations where the servicer has brought an action for foreclosure under the underlying mortgage loan, or where the borrower is in bankruptcy proceedings. If the servicer does not issue an annual statement pursuant to this exemption and the loan subsequently is reinstated or otherwise becomes current, the servicer shall provide a history of the account since the last annual statement (which may be longer than 1 year) within 90 days of the date the account became current.

You need to visit with your legal counsel on how to structure the modification.
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The opinions expressed are my own, take them or leave them.

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