Loan Servicing Standards

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Housing programs play a vital role in helping low- to moderate-income, minority borrowers, and eligible veterans and  servicemembers realize the dream of homeownership. MBA works with the agencies to improve servicing efficiency and reduce servicing costs. Clear and consistent guidance leads to more equal outcomes for borrowers, reductions in cost for servicers, and encourages greater participation in programs designed to aid vulnerable populations.

Read: Partial Claim Processing Delays: Risks and Solutions

The significant volume of partial claims completed throughout the COVID-19 pandemic have led servicers of FHA-insured mortgages to repeatedly receive notices from FHA’s Mortgagee Compliance Manager (MCM) demanding return of insurance funds for missing partial claim documents. Learn about:

  • The impact of delays on servicers
  • Recommended changes to regulation
  • Immediate actions to ameliorate delays

Read the flyer here.

Read: VA Partial Claims: Establishing a Permanent Program to Assist Veteran Borrowers

Veteran borrowers facing financial hardship should have access to additional tools to resolve delinquency and avoid foreclosure. The partial claim option available to FHA and USDA borrowers is not a tool in the Department of Veteran’s Affairs (VA) suite of loss mitigation options. Learn about:

  • Actions by Congress
  • Benefits of a Partial Claim Program
  • Impact to the VBA

Read the flyer here.

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