Successor In Interest - State Level Reports

Successor In Interest - State Level Reports 

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Please contact David Upbin if you have any questions.

Summary

One of the more challenging elements of the 2017 updates to mortgage servicing regulations are the requirements for handling both potential and confirmed successors in interest. Determining successors in interest can be complex enough when looking at the laws governing successorship in any one particular state. When looking at multiple states, this challenge can become an exponentially complex task for servicers and in-house council.

MBA and the Compliance Essentials program, in collaboration with leading legal experts, have created state-by-state reports to help servicers understand documents that are required to verify a successor in interest's status in each state. These concise and comprehensive reports have been created for each state, plus Washington DC and Puerto Rico, and will be an indispensable tool for your compliance staff. In effort to minimize the costs of compliance, MBA is pleased to offer tiered pricing based on the number of state reports your company needs and no more.

Please contact David Upbin if you have any questions.

Reports are authored by Margaret Scott and Nanci Weissgold, Partners at Alston & Bird LLP.

The pricing structure for these reports are as follows:
1-5 Reports

  • Member: $450 per state 
  • Non-Member: $900 per state

6-10 Reports

  • Member: $400 per state 
  • Non-Member: $800 per state

11-49 Reports

  • Member: $300 per state 
  • Non-Member: $600 per state

All States (including Washington, D.C. and Puerto Rico)

  • Member: $250 per report/$13,000 in total 
  • Non-Member: $26,000 per state

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Each report is good for one year from purchase and after purchase, there will be a yearly renewal price of $75 per report ($150 non-member) or $4,000 for the complete package ($8,000 non-member). MBA and Alston & Bird LLP are committed to maintaining the accuracy of each report. In the event a state modifies their regulations, an updated report will be delivered to the purchaser within 60 days of the law going into effect. If there is no update to the law in a given state during the year, MBA will deliver the same report with an updated copyright date to validate that the information has been reviewed. All reports are delivered electronically.