RC_LA_DA_301.5 GSE and Agency Loss Mitigation Options

Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), and the U.S. Department of Veterans Affairs (VA) are key participants in the mortgage market. Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) that provide liquidity through the purchase and securitization of mortgage loans. FHA and VA support access to homeownership through insurance (FHA) and loan guarantees (VA). Loans insured or guaranteed by federal housing programs are typically securitized through Ginnie Mae (GNMA). Because these entities represent a significant share of servicing portfolios, their loss mitigation requirements shape industry practices.

GSE and Agency Loss Mitigation Options provides a high-level overview of the loss mitigation frameworks, evaluation processes, and servicing expectations established by these entities. The course examines how servicers assess borrower hardship, prioritize home retention options, and apply structured decision-making approaches—such as GSE workout hierarchies and HUD’s waterfall.

The course begins with loss mitigation requirements for the GSEs, including their aligned approach under FHFA. It then reviews HUD’s structured framework for FHA-insured loans, including early intervention and permanent solutions. Finally, the course explores VA loss mitigation options, including standard alternatives, escalation support, and VA purchase authority.

This is a single-family/residential course.

Topics:

• GSE Options
• HUD Options
• VA Options

Seat time approximately 30 minutes.

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