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Gearing up for the volume of foreclosures

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

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

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