RC_LA_DA_301.3 Loss Mitigation Options
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011050-WC-WPurchase
This is a single-family/residential course.
Servicers have a number of tools and programs available to help borrowers in distress and to mitigate losses for all parties involved in a loan transaction. Ideally, options may allow borrowers to keep their home, but even in cases where this is not possible, there are solutions to help better manage and contain the loss. Successful solutions mitigate distress and financial burden for borrowers and their communities, as well as investors, lenders, and servicers. This course explores specific loss mitigation options and discusses how individual situations are evaluated to determine the appropriate course of action.
Loss Mitigation Options examines the basic types of retention and disposition loss mitigation options. We begin with an overview of these options and the factors that determine whether a retention or disposition option is the better choice for a particular situation. Next, we examine the various retention options such as reinstatement and repayment, forbearance, claims, loan modification, and refinance strategies. We conclude by presenting options that involve disposition of the property: short sales and deeds-in-lieu of foreclosure.
Seat time approximately one (1) hour.