6 Legal Disputes for Mortgage Professionals to Watch
- Source: National Mortgage News
Treliant Takeaway:
Treliant’s Regulatory Compliance and Risk Management (RCRM) professionals know mortgage, residential and commercial, originations and servicing. From process engineering to transaction testing, Treliant can help you build, assess, evaluate, and improve your mortgage processes.
Article Highlights:
On July 29, 2022, Courtney Hoff from National Mortgage News published an insightful article highlighting just some of the issues that mortgage lenders and servicers have faced in court so far this year.
- Borrowers sue over servicer’s data breach
- Poor hiring practices including fake interviews for minority applicants
- Originators poaching employees and information
- Discriminatory lending practices
- Overtime pay for account executives
- FDCPA violations regarding statutory interest rate when a foreclosure judgment occurs
Borrowers, employees, lenders, and regulators were all in court this year. It is expected that more of the same will be seen as foreclosures inch higher and competition for new loans increase. Now is the time to assess and improve your processes and controls. Do you adhere to regulatory requirements and industry best practices? Treliant can help you answer that question and more.