Loss mitigation in mortgage is a process that lenders use to help borrowers avoid foreclosure and perhaps even stay in their homes. More commonly, lenders help you transition out of your home without ...

The availability of FHA’s Covid-19 loss mitigation options are extended for 18 months beyond the April 30 mandatory effective date for servicers to remove “uncertainties associated with the timing of ...

There is money available to help pay your utility bills. Here is how you can apply The Federal Housing Administration (FHA) announced that it is expanding and enhancing its set of loss mitigation ...

On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to ...

MBA, ABA, NMSA sign joint letter seeking to simplify & clarify the plan, as well as to extend the time to implement it. The Federal Housing Administration (FHA) on May 31 proposed a new home-retention ...

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Mortgage servicers have spent the past couple of years watching as federal housing agencies adopted various strategies to help borrowers who entered forbearance due to the COVID-19 pandemic but ...

The U.S. Department of Housing and Urban Development (HUD)’s Office of the Inspector General (OIG) published on Thursday two reports broadly alleging that mortgage servicers — and Mr. Cooper in ...

Loss mitigation is a collaborative process between borrowers and mortgage servicers to prevent foreclosure. It involves various strategies to help homeowners manage their mortgage payments and avoid ...

Loss mitigation is a way for mortgage lenders to help borrowers who are struggling to make their monthly payments avoid losing their homes. You can keep your home with many loss mitigation options, ...