Loss mitigation in mortgage is a process that lenders use to help borrowers avoid foreclosure and perhaps even stay in their homes. More commonly, lenders help you transition out of your home without ...

On July 10, the CFPB proposed a rule to amend RESPA regulations originally issued in 2013 regarding the responsibilities of mortgage servicers. The rule removes the definition of “loss mitigation ...

We are seeing tremendous transformation within the loss mitigation space. Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation ...

A coalition of six organizations representing mortgage companies and borrowers has sent a letter to the Federal Housing Administration (FHA), urging the extension of the current loss-mitigation ...

On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to ...

Falling behind on your mortgage payments is an incredibly stressful situation. When you miss multiple payments, the lender may start the foreclosure process to take possession of your home. However, ...

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (WFC) today confirmed that the Office of the Comptroller of the Currency (OCC) terminated its 2021 consent order related to loss mitigation ...

Loss mitigation is a way for mortgage lenders to help borrowers who are struggling to make their monthly payments avoid losing their homes. You can keep your home with many loss mitigation options, ...