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Mortgage Servicing: Loss Mitigation


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.

Updated: September 2018

What You'll Learn

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.

​Course Credits

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​Questions? Please contact training@aba.com for more information.​​
 

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