Bankruptcy Basics Webinar: Consumer Bankruptcy - Servicing a Mortgage Loan in a Chapter 13

Download Materials and Recording

This webinar is appropriate for all levels of expertise who service mortgage loans. In Servicing a Mortgage Loan in a Chapter 13, we will focus on how to properly service a mortgage loan wherein the debtor files chapter 13 bankruptcy.  We will discuss in depth (1) how to properly account for the treatment of pre-petition arrearage; (2) protecting the mortgage loan and the creditor’s rights against improper modification by the debtor; (3) application of pre-petition arrearage payments and monthly payments received from the debtor; (4) compliance with Bankruptcy Rule 3002; and (5) current litigation trends we are seeing against creditors for improper servicing of a mortgage loan in a Chapter 13.  This webinar is meant to address the intersection between servicing, accounting and bankruptcy in Chapter 13s, and to address industry issues and litigation trends arising out of this area as a result of new requirements under the Real Estate Settlement Procedures Act (RESPA). These include requirements that a servicer issue monthly statements to customers in bankruptcy, and the new notice requirements under the Bankruptcy Rule 3002.1.