Mortgage Servicing: Loss Mitigation

Course Number: ABA

Course Code: ABA

Covers the conditions for a loss mitigation application receipt and obligations of forbearance and repayment plans, and the requirements for providing a notice of complete application and denial circumstances. Identifies how a determination notice is used for a loss mitigation offer, conditions for acceptance or rejection, and conditional non-home options.

After completing this course, students will be able to:

-Identify when loss mitigation rules apply

-Describe how a loss mitigation application is reviewed

-Explain requirements when evaluating loss mitigation applications and loss mitigation offers

-Describe the timing and content of a determination notice for loss mitigation applications and loss mitigation offers

-Explain the servicer’s obligation for loan modifications and appeals

Audience: Anyone performing duties in consumer mortgage servicing areas who have live contact with borrowers.

Prerequisites:

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Member Price: $95.00
Non-Member Price: $130.00
Textbook Charge: $0.00

Credits: ICB: 1 CRCM

Length: 45min

ABA Training