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Loss Mitigation Update: The New Rules
IMF Publications, June 2009, Minutes: 90
Mortgage market players are being required to follow a growing set of rules when it comes to loss mitigation and dealing with borrowers facing foreclosure. FHA’s HOPE for Homeowners program, short sales, and even accommodating second liens with loan modifications are now all part of the mix that servicers are required to consider as part of their loss mitigation efforts.
Find out about the new rule and requirements that the mortgage industry must follow in dealing with problem mortgages at a new Inside Mortgage Finance audio conference.
What are specific loss mitigation alternatives that must be followed before a foreclosure can be initiated? What are the new incentives for using a short sale or deed-in-lieu of foreclosure? Who qualifies under the newly modified H4H program and what are the incentives for lenders?
Get an update on the government’s latest requirements and incentives for foreclosure avoidance as industry experts discuss the issues and answer your questions.
During This Live 90-Minute Session You'll Learn About:
- New steps servicers must follow in evaluating borrower alternatives to foreclosure;
- How you can stay in compliance;
- HOPE for Homeowners program enhancements including reduced fees and incentive payments;
- New incentives for borrowers and servicers doing short sales and deed-in-lieu of foreclosure transactions;
- Home Price Decline Protection payments to hedge against falling home prices;
- Provisions that give FHA authority to pay partial claims under a loan modification;
- Investor concerns regarding these new programs such as safe harbor for servicers;
- New incentives for junior lien holders to release their claims;
- New disclosure requirements and civil penalties for assignees and purchasers of mortgages.
Your Audio Conference Registration Includes These Added Benefits:
- Conference attendance for you and your entire team around your speakerphone;
- A very useful resource - the conference manual - which includes a program outline, speaker bios and supplemental materials, plus key articles on the topic from the pages of Inside Mortgage Finance and our other newsletters;
- A full transcript, emailed to you when you take our post-conference survey; and
- The opportunity to connect with any or all of the speakers anonymously during the audience Q&A session - a favorite part of these events.
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