The Subservicing Scene is a video series from Richey May that dives deep into the most frequently asked questions we receive around subservicing. The series breaks down complex regulations and best practices, helping lenders navigate areas like oversight, lender-placed insurance, adjustable-rate mortgages, and more. Whether you’re new to using a subservicer, considering changing your strategy, or looking to stay ahead of compliance requirements, this series offers practical insights to support your success.
Discover the importance of establishing a strong oversight process to stay compliant and manage risk. Whether you’re using a subservicer or managing servicing in-house, the responsibility for regulatory compliance remains with you, the master servicer. From ensuring alignment with service level agreements to documenting reviews for regulators and investors, oversight is a vital piece of your risk management strategy.
Lender placed insurance comes into play when a homeowner’s insurance policy lapses or is deemed insufficient. In these situations, the lender steps in and purchases a basic policy to protect their interest in the property. Watch and learn more about CFPB notification timelines, cancellation and refund procedures, and how vendors can help streamline the process.
Have questions or need help with subservicer oversight or servicing strategy? Fill out the form and our team will get back to you shortly.