FHA Loss Mitigation Part I
In Part I of the Loss Mitigation course, we cover expectations for servicers and their staff to review each loan in default to determine which available foreclosure avoidance strategy is appropriate. We will address FHA’s expectations for maintaining and completing the loss mitigation review process.
HUD expects lenders to utilize loss mitigation measures whenever appropriate. For some borrowers, a temporary forbearance will cure the problem, and, for others, a permanent modification is necessary.
What will I learn?
By the end of this course, you should be able to:
- Describe the delinquency/default options and requirements to avoid foreclosure
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Review the approved Loss Mitigation waterfall (hierarchy)
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List types of forbearance plans
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Identify the requirements of a Special Forbearance plan
Course Length
40 mins
How it works
Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles, real world examples, and, where appropriate, video and/or audio recordings of industry experts.
The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. While course completion time varies per student, it will take approximately one hour to complete most courses.
Students have 12 months from the registration date to complete the course. Upon successful completion of the course, students can download their industry-recognized certificate of completion and transcript.
*Restrictions apply. If your staff size exceeds 250, please consider the Enterprise AllRegs Education Package.