- DSNews - https://dsnews.com -

CWCOT Webinar: Insights Into Critical Changes

Earlier this month, HUD released Mortgagee Letter 2020-21 [1], which provided long-awaited updates and clarifications related to the Claims Without Conveyance of Title [2] program. Next Tuesday, August 4, the DS News webinar series brings you a complimentary webinar [3], presented by Auction.com [4] and featuring insights from industry experts who will guide you through the changes, what they mean, and why they're important.

As noted in the letter, the FHA's CWCOT program is "a claim option through which FHA pays insurance benefits to a Mortgagee after the sale of the property to a third party at the foreclosure of the FHA-insured mortgage or through a Post-Foreclosure Sale. With CWCOT, there is no conveyance of the property to HUD in exchange for payment of mortgage insurance benefits."

The program is designed to speed up "the disposition of foreclosed properties and [reduce] the amount of time a property sits vacant," thus helping prevent urban blight and get these properties back into the hands of owner-operators.

This DS News webinar, entitled, "CWCOT Update: What Servicers Need to Know," will bring you commentary and insights from the following subject-matter experts:

According to the FHA's statement, the guidance in the ML enhances CWCOT procedures by:

To register for the webinar, click here [3].