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Tag Archives: Loss Mitigation

Borrower Outreach Events Proving Successful at Preventing Foreclosures

Borrower outreach events include HUD-approved housing counselors and mortgage servicers in order to give distressed borrowers a face-to-face meeting to work out a solution such as a permanent loan modification that will allow borrowers to remain in their homes. If a home retention solution cannot be worked out, often a non-foreclosure home forfeiture solution is offered such as a short sale or deed-in-lieu of foreclosure.

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The Impact of HAMP on Loss Mitigation Norms

It has enabled the industry to evolve its loss mitigation norms by helping to define a process that uses income to drive to a specific debt-to-income level, and it is likely that modifications beyond HAMP will continue to occur on this basis.

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Ocwen Engages in Community Outreach to Help Distressed Borrowers

The Atlanta-based servicer's outreach, which is scheduled to take place in 10 cities across California, New York, Illinois, Wisconsin, and Florida, is part of Ocwen's continued effort to partner with community leaders and non-profit housing organizations to provide solutions to struggling homeowners.

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