Chapter 11 - Selected Consumer Protection Regulations

Question 0

Force-Placed Insurance

Answer 0

Type of insurance that covers the lender’s interest in the home.

Question 1

Dual Tracking

Answer 1

The term used when servicers move forward on a foreclosure at the same time the mortgage servicer is working with a borrower on a workout plan.

Question 2

Loan Workout

Answer 2

Establishment of new payment terms that are mutually agreed upon between the lender and delinquent borrower to get payments back on schedule.