RC_LA_DA_303.1 Conventional Loan Recovery: Essentials
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011167-WC-WPurchase
This is a single-family/residential course.
Although lenders strive to avoid foreclosure through workout and loss mitigation efforts, there are some circumstances in which foreclosure is the only remaining option for the lender.
Conventional Loan Recovery: Essentials provides an introduction to the steps that servicers take when a conventional mortgage loan goes into default. The course begins with an overview of the different components of the recovery process (foreclosure, claims, and corporate advance) and discusses the cost of recovery. Next, it explores the documents that make up the mortgage agreement: the security instrument and the note. It then reviews the parties that influence the recovery process, including investors, regulators, and insurers. It continues with a review of two documents critical to the recovery process: the selling and servicing agreement and the private mortgage insurance master policy. Finally, the course examines servicing during the recovery process, with an overview of the roles of customer service, investor accounting, and default administration.
Seat time approximately one (1) hour.