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Live Webinar

90-minute live streaming program
  • May 19
  • 1:00 - 2:30 pm EST

Fundamentals of Forbearance Agreements

May 19

Understand the critical actions and legal issues that a lender should consider when entering into a forbearance agreement.

Oftentimes, borrowers encounter a temporary hardship that prevents them from making mortgage payments on a timely basis. When contacted by this borrower for assistance, a forbearance agreement may be the solution to their problem. This live webinar will provide insight to the person negotiating or drafting forbearance agreements on behalf of creditors as to what provisions should be included in forbearance agreements. This material is critical for creditors that want to avoid loss of priority, statute of limitations issues, and litigation; if the borrowers default after executing the forbearance agreement.

Learning Objectives

  • You will be able to define and distinguish between a loan modification and a forbearance agreement.
  • You will be able to discuss when a forbearance agreement should be entered into prior to a loan modification.
  • You will be able to explain the procedures required to proceed with foreclosure after a default under a forbearance agreement.
  • You will be able to review forbearance agreements to ensure they provide essential clauses.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Distinguishing Forbearance Agreements From Loan Modifications
  • Loan Modifications Are Permanent; Forbearance Agreements Are Temporary
  • Forbearance Agreements as Trial Modifications
  • When Are Consents From Subordinate Lien Holders or Guarantors Required?
  • Clearing Title While Forbearance Agreement in Effect Prior to Entering Into a Loan Modification
Forbearance Agreements Can Be Entered Into Before or During Foreclosure Action Commenced
Dual Tracking Prohibition Against Entering Judgment If Borrower Is Complying With Forbearance Agreement
Acknowledgments
  • Ratification and Confirmation of Loan Docs
  • Acknowledging Total Amount of Debt Including Interest, Larte Charges, and Legal Fees and Costs
  • Acknowledging Debt and Expressing Intent to Pay
  • Estoppel Certificates
Providing Remedies for Subsequent Default
  • Notice Requirements
  • Proceeding Ex Parte
  • Cancelling Forgiveness and Proceeding With Foreclosure
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: basic knowledge of the banking industry. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, loan officers, loan department personnel, branch managers, credit and collections managers, real estate professionals, controllers, accountants, and auditors.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Peter T. Roach, Esq.

Peter T. Roach, Esq.

Roach & Lin, P.C.

  • Principal of Roach & Lin, P.C.
  • Practices in all areas of mortgage default servicing, including foreclosure, loss mitigation, bankruptcy, litigation, evictions, and REO sales throughout the entire State of New York
  • Lecturer for St. John’s University Continuing Legal Education Program, New York State Bar Association, Queens and Nassau County Bar Associations, Practicing Law Institute, Lorman Education Services, The Knowledge Group, and Marino Legal Continuing Legal Education
  • Membership information: board of directors, St. John's University School of Law Alumni Association (member, 1988 to present; president 2002 to 2004); International Network of Boutique Law Firms (INBLF) (member, 2004 to 2016; president, New York Chapter, 2008 to 2011); New York State Bar Association; and vice president of Harmony Heights School (2000 to present)
  • J.D. degree, St. John’s University – School of Law; B.A. degree, State University of New York at Binghamton
  • Can be contacted at 516-938-3100 ext. 318 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 408601
Published 2021
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