RC_LA_DA_301.1 Loss Mitigation Concepts

Loss mitigation in mortgage lending involves activities that reduce or eliminate credit losses to lenders, servicers, investors, and borrowers. In the broadest sense, it includes all efforts related to managing delinquency, from early intervention through property disposition.

Loss Mitigation Concepts introduces the foundational principles of loss mitigation. The course begins with the history of loss mitigation and how economic conditions and regulatory changes shaped modern practices. It then examines the forms of loss mitigation, including both retention and disposition strategies, and the factors that influence their use. Next, the course explores the roles and interests of key participants in the loss mitigation process, followed by the economic and non-economic reasons for pursuing loss mitigation. Finally, it identifies the key knowledge, skills, and operational factors that contribute to successful loss mitigation outcomes.

This is a single-family/residential course.

Topics:

• History of Loss Mitigation
• Forms of Loss Mitigation
• Parties in the Loss Mitigation Process
• Reasons to Mitigate
• Keys to Successful Loss Mitigation

Seat time approximately 1 hour.

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