FDCPA/State Specific
What is the hierarchy order for the NY disclosure?
Original Creditor, Previous Servicer, Investor
What is the Respa/COVID disclosure
If you have been affected by the recent COVID-19 pandemic, we know you may be facing some difficult challenges. We're here to help you, and may be able to offer you a number of solutions to help you navigate this difficult period. If you would like counseling or assistance, housing counseling services are available, free of charge, through HUD-approved housing counselors in your area by calling the HUD nationwide, toll-free telephone number, at 1-800-569-4287.
What is the HUD Disclosure
If you would like counseling or assistance, housing counseling services are available, free of charge, through HUD-approved housing counselors in your area by calling the HUD nationwide, toll-free telephone number, at 1-800-569-4287.
What do you document when you give the HUD disclosure?
HUD Disc given date
Where do you document that the state disclosure was given for CA, WA, or NV?
Permanent Collection Notes
When do you give the Respa/COVID disclosure?
When a loan is 35 or more delinquent and then every 30 days after.
If the HUD disclosure was documented within the last 30 days, would you update the date if the account is 35 days delinquent and not on a Covid FB or Loss Mit
No you would give the Respa/Covid disclosure and document the correct disclosure
Does the CA, WA, NV disclosure have to be read verbatim?
Yes it must be verbatim
Do you have to read the Respa/COVID disclosure verbatim?
Yes the disclosure must be read verbatim
When do you give the HUD disclosure
When a loan is 35 or more delinquent and then every 30 days after.
Where do you document that the NY disclosure was given
On RDA State Disc or in notes
When do you give the NY disclosure?
Every time you speak to a borrower where the property and/or mailing address is in the state of NY.
Where do you document that the Respa/Covid disclosure was given
In account notes and in Permanent Collection Notes
If an un-authorized third party is calling in and the loan is 35 days delinquent and on a FB plan, would you give the HUD disclosure
No we would only give it to an authorized party
How do you document that the state disclosure was given for CA, WA, or NV?
Date, State, HUD, and 14 day disc given
Since the CA, WA, NV disclosure includes HUD and the phone number, do you still have to give the HUD disclosure if the account is on Loss Mitigation or Forbearance Plan and more then 35 days past due?
Yes since both disclosure have to be read verbatim and are different.
Who would you give the Respa/COVID disclosure to
Anyone who is authorized on the account
If the account is on Loss Mitigation and the HUD disclosure was given 24 days ago, do you have to give it again
No, we only have to give it every 30 days
What could happen if you do not document that a disclosure was given
Could result in a QC Auto-Fail