The Federal Housing Administration (FHA) has updated the Servicing and Loss Mitigation section of the FHA Single Family Housing Policy Handbook 4000.1.
The update streamlines many standard operational requirements for mortgage servicers, including revising FHA’s loss mitigation home retention “waterfall” so that servicers can more quickly offer effective loss mitigation home retention options to borrowers in danger of losing their homes to foreclosure.
Read on for details from FHA.
TO READ THE FULL STORY
Cover Story: