Tag Archives: Loss Mitigation

Attorney Geoffrey K. Milne details a recent case involving the state of Connecticut’s Emergency Mortgage Assistance Program (EMAP), a program intended to assist homeowners in avoiding foreclosure.

While nationwide home prices and average costs of living continue to rise, a new case study from Black Knight highlights servicer success using self-service loss mitigation technology to connect with and engage borrowers in times of financial distress.

New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk for vulnerable homeowners by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.

The MBA reports nationwide forbearance volume has reached levels not seen since March 2020, attributed to a strong jobs market and the array of loss mitigation options introduced since that time.

A new white paper from Aspen Grove Solutions delves into how technology can reduce the risk of enforcement actions, consent orders, and curtailments for mortgage servicers in today’s marketplace. (Sponsored Content)

In order to assist struggling borrowers amid an erratic mortgage rate environment, the FHA has proposed a plan to assist borrowers through temporary reductions to monthly mortgage payments for up to five years.

The MBA reports that approximately 255,000 homeowners remained in forbearance plans through April, as mortgage servicers have provided forbearance options to nearly 7.8 million Americans since April 2020.

While lenders have been adding eSign capabilities to all stages of the origination process for years, implementing eSign and RON technology into the loss mitigation process would be a completely new experience for many new servicers. 

In this newly created role, Alicia Wood will be tasked with administering CBC’s entire loan servicing operation and responsible for servicing oversight and loss mitigation activity on all first and second mortgages, as well as agency and investor reporting.

In an effort to complement the initiatives outlined in the FHFA’s Strategic Plan: Fiscal Years 2022-2026, adjustments have been made based on initial research and findings to further promote equitable access to affordable and sustainable housing.