Topic
Loss Mitigation
34 published works
Consumer Finance Monitor
HUD further revises servicing and claims requirements and loss mitigation options
In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans…
Financial Services Perspectives
Updates to the Updates of FHA’s Servicing, Loss Mitigation, and Claims Processes
By James W. Wright Jr., John Thomas Mostellar III
At the tail end of the Biden administration, the Federal Housing Administration (FHA) published Mortgagee Letter 2025-06, which was tilted Updates to Servicing, Loss Mitigation, and Claims. The 251-page mortgagee…
Consumer Finance Monitor
This week’s podcast episode: CFPB’s Proposed Mortgage Servicing Rule Amendments: Understanding the Impact on Loss Mitigation, Foreclosure, and Language Access
This summer, the CFPB issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on loss mitigation procedures, foreclosure protections, and language access. These…
InsureReinsure
New York Department of Financial Services Issues Guidance on Insurance Loss Mitigation Tools and Services
By Jeffrey Bohn
On May 23, 2024, the New York Department of Financial Services (the “Department”) issued Insurance Circular Letter No. 3 (the “Letter”). The Letter is addressed to “all insurers authorized to…
Consumer Finance Monitor
HUD Announces FHA Loan Payment Supplement Loss Mitigation Program
The U.S. Department of Housing and Urban Development (HUD) recently announced a Payment Supplement loss mitigation program for Federal Housing Administration (FHA) insured Title 2 mortgage loans, the details of…
Ira J. Metrick's Law Blog
HUD Expands FHA COVID-19 Recovery Loss Mitigation Options for Defaulting Borrowers
The United States Department of Housing and Urban Development (HUD) has expanded the Federal Housing Administration (FHA) COVID-19 Recovery Loss Mitigation Options to include all borrowers in default or imminent…
Canadian Lawyer Mag
BC Court of Appeal clarifies test for reducing damages awarded due to failure to mitigate losses
Plaintiff sustained injuries from a car accident that occurred on a congested highway
wh Law Blog
What are the Effects of Foreclosure in Arkansas?
By Jessica Hall
The primary consequence to consider in the event of a foreclosure sale is, naturally, losing one’s home. However, it goes beyond that—there are many more unfortunate effects associated with a…
Financial Services Perspectives
CFPB Releases RFI on Mortgage Servicing Rules Signaling Potential for Future Regulatory Reform
On Thursday, September 22, 2022, the Consumer Financial Protection Bureau (CFPB) issued a new request for information (RFI) regarding mortgage servicing, potentially opening the door for much-needed regulatory reforms. The…
Financial Services Perspectives
CFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Mortgage Servicing Loss Mitigation Violations
The COVID-19 pandemic has been a focal point for the Consumer Financial Protection Bureau (CFPB) – especially with regard to mortgage servicers and loss mitigation programs. In its Fall Supervisory…