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Notice Delivery: Force-Placed on Serviced Mortgages

In an effort to comply with the notice requirements for force-placed insurance on serviced mortgages, is there any guidance anyone can offer regarding alternative methods of notice delivery other than "first class mail" by the USPS? We have a customer living overseas. I know that Reg B appraisal notices allow for email and LE and CD notices can also be emailed. Your thoughts or guidance in this?

by Andy Zavoina:

Generally you have E-SIGN and the United States Postal Service. If you start with the USPS and it has to hand off the mail to the official services of another country, I do not see that as rendering the account in violation of any disclosure delivery requirements. To do so is to say anyone outside the US cannot be a customer if the USPS may be required.


by Richard Insley:

The notices required by Section 1024.37 must be "written." Therefore, as Andy says, that means paper or ESIGN. Deliver of paper usually involves the USPS, but any other reliable means of getting the paper from you to the borrower (FedEx, for example) would also count as delivery "in writing."

First published on 06/03/2018

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