2017 Compliance Training Series - Session III (Default Servicing)

Which of the following is provided for under Regulation X of the Dodd-Frank Act (select all that apply).

A. Addresses servicers' obligations to establish policies and procedures to obtain objectives

B. Provides information about loss mitigation options to borrowers

C. Establishes policies and procedures for providing delinquent borowers with continuity of contact with servicer personnel

D. Establishes procedures for evaluation of loss mitigation options

Which of the following practices are defined as "unfair" under UDAAP (select all that apply)?

It causes or is likely to cause substantial injury to consumers

B. The injury is not reasonably avoidable by consumers

C. The injury is not outweighed by countervailing benefits to consumers or competition

The Consumer Financial Protection Bureau (CFPB) is the rulemaking authority for UDAAP.

A. True

B. False

Attorneys must be notified immedately of any document suspected of consitituing a QWR.

A. True

B. False

The purpose of the FDCPA is to prevent and prohibit abusive practices by debt collectors.

A. True

B. False

What is the correct form in CaseAware Names for the FDCPA letter?

A. A GLOBAL – FDCPA

B. FDCPA Letter

C. FDCPA Notification

D. Correct FDCPA Letter

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