Skip to content

Gearing up for the volume of foreclosures

Answered by: 

Question: 
We have existing procedures for handling foreclosures? Do our procedures need to be revised?
Answer: 

Existing procedures are probably sufficient, the concern is the ability to handle expected volume of foreclosures. The agencies are concerned with the servicer’s ability to dedicate sufficient resources and staff to ensure they can communicate clearly with borrowers, effectively manage borrower requests for assistance, promote loss mitigation, and ultimately reduce avoidable foreclosures and foreclosure-related costs.

--------------------------

Learn more about Jack Holzknecht’s Foreclosure Surge and Compliance Issues webinar.

First published on 05/16/2021

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics