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VA Wants More Loss Mitigation.(Brief Article)
The Department of Veteran Affairs is resigning its loan administration procedures and it will be asking its servicers to take on more loss mitigation responsibilities.
"The changes will be sweeping," according to Keith Pedigo, director of the VA's loan guaranty service.
The VA currently steps in to help veterans once a loan is 90 days past due. But servicers are now well trained in helping borrowers avoid foreclosure and the VA wants to take advantage those skills.
The agency has been consulting with some of its lenders and the reaction has been "positive," Mr. Pedigo said. The VA intends to reveal the redesign plans in the next two to three months.
The VA director expects a rulemaking process will take six to nine months and ...
- Loss Mitigation Is Cost Effective.
- Magazine article from: National Mortgage News APGAR, WILLIAM November 8, 1999 700+ words
...effectiveness of the FHA's loss mitigation program, which provides single...audit report on the single family loss mitigation program. As stated in the Executive Summary, the use of loss mitigation is indeed rising exponentially...
- The return of LOSS mitigation. (loan servicing)
- Magazine article from: Mortgage Banking Litton, Larry B., Sr. May 1, 1997 700+ words
...delinquent loans by implementing aggressive loss-mitigation programs. Whereas traditional servicing...to 1,000 loans per employee), loss mitigation is a highly labor-intensive business...Servicing executives generally resist loss-mitigation activity for several reasons. Loss...
- TNLMA[TM] Announces Official Launch of National Loss Mitigation...
- Newspaper article from: Investment Weekly News March 28, 2009 700+ words
...the first national association for Loss Mitigation and Loan Modifications founded to...meeting the growing public demand for loss mitigation services. "TNLMA™...education of policymakers for the loss mitigation industry is vital to the stability...
- Managing to cushion the blow. (mortgage servicing industry's loss mitigation...
- Magazine article from: Mortgage Banking Hoff, John R. February 1, 1997 700+ words
...agencies are bringing dramatic changes to loss mitigation. A new survey captures what servicers...understand how they are approaching loss mitigation as this new era in delinquency management...the servicing industry relative to loss mitigation. What is essentially taking place...
- LOGS Adds Loss Mitigation Feature to Online Communications.
- Magazine article from: Mortgage Servicing News April 1, 2000 700+ words
...Services Inc. has developed a loss mitigation module for its LOGS Management...identify and communicate potential loss mitigation opportunities online to mortgage servicers. The loss mitigation module is especially useful in...
- TNLMA[TM] Announces Launch of Certification Program for Loan Modification...
- Press release article from: Business Wire March 19, 2009 700+ words
...National Proactive Association for the Loss Mitigation Industry and Loan Modification Service...of ethics for loan modification and loss mitigation specialists. Upon completion of this...forum for executives from leading loss mitigation companies to come together in conferences...
- Firm Offering More in the Way of Loss Mitigation Services.
- News wire article from: Mortgage Line Harmon, Jennifer November 7, 2008 700+ words
...foreclosure each day, successful loss mitigation is of critical importance in today...industry know it has expanded its loss mitigation package to include its notary service...been reported that 50% to 60% of loss mitigation packages are not returned from the...
- Hud increases lender incentives, penalties for FHA loss mitigation.(Department...
- Magazine article from: Mortgage Banking June 1, 2005 700+ words
...lenders it judges have not engaged in loss-mitigation techniques, HUD announced it would...Reimbursements and incentives for other loss-mitigation options remain unchanged, said HUD...HUD defined "failure to engage in loss mitigation" as a servicing lender's failure...