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Tag Archives: Loss Mitigation

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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WaterfallCalc.com Upgrades Loss Mitigation Software

WaterfallCalc.com, an affordable, user-friendly loss mitigation waterfall calculator designed to meet the needs of all FHA mortgage servicers, has released Version 2.0 of its popular software, according to an announcement from the Grand Rapids, Michigan-based company.

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Freddie Mac Lists Steps To Help Distressed Borrowers Avoid Foreclosure Relief Scams

One of the steps Freddie Mac lists for borrowers to take in order to avoid being the victim of a scam is, first and foremost, calling your servicer. The borrower's servicer is the only one who can modify the mortgage or finalize a loss mitigation plan – anyone other than the servicer who professes the ability to do so is a scammer, especially if they require the payment of an upfront fee.

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