Top Violations: Mortgage Servicing

Learning from the mistakes of others is one of the best ways to stay out of hot water with examiners.

Our review team has the privilege of going into several financial institutions a week to observe where their struggles lie.

It’s not uncommon for different banks to struggle in the exact same areas. We had our review team compile the top violations they’ve seen this year in the areas of Lending, Deposits, and BSA/AML.

Jerod explains more in the video.


Consulting Resources!


I mention in RESPA Mortgage Servicing, Real Estate Settlement Procedures Act, that servicing issues, in general were a hotspot. Here it comes up again on page number 10, letter D, and we're going to expand a little bit. So just general loan servicing, auto, personal, commercial, and agricultural loans. And then the collections practices. The Fair Debt Collection Practices Act just got updated. Many of you probably are listing, and you're not subject to the Fair Debt Collection Practices Act. That's fine, but then your collection practices fall under the wing of the Unfair, Deceptive, or Abusive Acts or Practices Act, which is way more subjective anyway, and eye-of-the-beholder-type stuff. So make certain that you're not going too far regarding collections and just general servicing of loans. Learning from the mistakes of others is the best thing to do there.


Jerod Moyer

Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!

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