Wolters Kluwer to host loss mitigation guidance webinar May 27

Experts from Wolters Kluwer Compliance Solutions are offering a complimentary presentation, “COVID-19 Workouts: Ready for the influx of activity and regulatory change?” for loan servicers to help address growing uncertainty around loss mitigation management and regulatory guidance in the wake of the coronavirus pandemic in a webinar 1-2 p.m. CDT Wednesday, May 27.

Wolters Kluwer speakers will include Thomas Grundy, CRCM, Senior Director, CMS and Regulatory Consulting, U.S. Advisory Services; Chris Zimmermann, Senior Technology Product Manager, Compliance Solutions; and Britt Faircloth, CRCM, Consulting Manager, Fair and Responsible Banking, U.S. Advisory Services.

The end of allowable forbearance periods as required under the U.S. CARES Act is expected to generate a considerable influx of borrowers who will require post-forbearance workouts to their mortgage loans. Servicers are concerned about having capacity to handle the impending wave of loss mitigation workouts and being able to manage the pace of regulatory change.

“These are truly unprecedented times for the servicing industry, given the severe impacts that the COVID-19 pandemic has imposed on lenders, servicers and borrowers,” said Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Given these challenges, we recognize the need for sound processes and a holistic approach to compliance. We are ready and positioned to help the industry navigate through this difficult period in as practical and compliant a manner as possible.”

Wolters Kluwer is positioning its Expere Servicing and Loss Mitigation technology and warranted documents, in combination with its Consulting Services team, to assist servicers in helping address the challenges that post-forbearance workouts will bring. 

Servicers will need to navigate changing state and federal loss mitigation requirements and the compliance burden associated with the expected influx of loss mitigation workouts. During this webinar, Wolters Kluwer experts will cover the latest guidance and challenges servicers will face, including:

• Operationalizing servicing in a remote environment
• Applying lessons learned from the financial crisis
• Maintaining a strong compliance governance program
• Analyzing workouts for adherence to fairness principles.