Reviewing Borrowers and Restarting Foreclosures Under the New FHA Waterfall Loss Mitigation Guidelines

The implementation date for the new FHA Loss Mitigation Waterfall guidelines (Mortgagee Letter 2012-22) is quickly approaching.  With March 16, 2013 looming right around the corner, many servicing shops, both big and small, are increasingly anxious about how to best go about incorporating these new guidelines and calculations into their servicing operations.  More so, foreclosures are on hold until borrowers are reviewed under the new FHA Loss Mitigation guidelines.

 

DLS Servicing Consultants can assist with clearing this large volume of stalled foreclosures.  Designed with the needs of FHA servicers in mind, DLS Servicing Consultants offers servicers and housing finance agencies a proprietary FHA Waterfall Program with the ability to choose the correct loss mitigation option, as well as perform all of the calculations for loan modifications, HAMPs, and forbearance plans.  Additionally, the FHA Waterfall Program can calculate delinquent interest in several ways as well as account for investor variances (i.e. term extensions and interest rate reductions). 

 

 

With the completion of just a few forms and basic loan level data, DLS Servicing Consultants can partner with servicers whose FHA foreclosures are stalled to verify the correct loss mitigation option was chosen on these FHA loans and ensure calculations were done correctly.  This means servicers can clear this foreclosure backlog with the peace of mind that loss mitigation was done efficiently and correctly.

 

 This program is available to our clients for $75 per loan.  Volume discounts may be available.

Contact Us for more information or to begin using the FHA Loss Mitigation Waterfall Program.

 

 

 

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