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What Is Loss Mitigation? | Nolo
The term “loss mitigation” refers to a loan servicer’s duty to mitigate or lessen the loss to the investor (the loan owner) resulting from a borrower’s default.Given the costs that an investor must bear through the foreclosure process, loss mitigation is intended to be beneficial for the investor.

HUD Loss Mitigation Training | HUD.gov / U.S. Department ...
The Federal Housing Administration (FHA) recently launched newly redesigned and enhanced Electronic Courses on Loss Mitigation and Servicing System and the Extensions and Variances Requests System web applications.ECLASS is a portal to self-paced, online training for FHA-approved servicers, FHA-approved counseling agencies (HCA), and other non-profit counseling agencies.

ASSISTANT SECRETARY FOR HOUSING FEDERAL HOUSING COMMISSIONER
Loss Mitigation for Borrowers Affected by the COVID-19 National Emergency The Mortgagee must not deny COVID-19 National Emergency Home Retention Options to Borrowers that experience an adverse impact on their ability to make on-time Mortgage Payments due to the COVID-19 National Emergency and satisfy the loss mitigation criteria set forth in

CFPB Mortgage Loss Mitigation Protections
Currently, servicers cannot make a loss mitigation offer to a borrower based on an incomplete application unless permitted by the exceptions set forth in Regulation X. In the summer of 2020, the ...

Hardships caused by COVID-19 - Planet Home Lending
Are you a New York customer who does not have a federally backed loan and who is in need of COVID-19 loss mitigation assistance? New York regulated residential mortgage lenders/servicers must (i) make applications for forbearance widely available; and (ii) grant payment forbearance for a period of 180 days, which may be extended for an ...

CFPB Regulation X Comments Solicited to Assist COVID ...
Currently, servicers cannot make a loss mitigation offer to a borrower based on an incomplete application unless permitted by the exceptions set forth in Regulation X.[15] In the summer of 2020 ...

Covid-19: CFPB'S Proposed Mortgage Servicing Amendments ...
Currently, servicers cannot make a loss mitigation offer to a borrower based on an incomplete application unless permitted by the exceptions set forth in Regulation X. 15 In the summer of 2020, the CFPB enacted Section 1024.41(c)(v) ...

Renter, Landlord COVID-19 Relief Program is Here | The ...
Renter, Landlord COVID-19 Relief Program is Here. The state is now accepting applications for the CA COVID-19 Rent Relief program designed to provide financial relief to renters and landlords with unpaid rental debt because of COVID-19.. Tenants are eligible for rent relief if they have suffered a financial hardship because of COVID-19 and have 80 percent or less of the Area Median Income (AMI ...