Loss Mitigation Principles

The CFPB and the U.S. Department of Housing both recently released principles for loss mitigations (CFPB, HUD).  The papers result from the mortgage crisis and phasing out of the Home Affordable Modification Program (HAMP).  The documents do not establish any new requirements, but outline principles that should be incorporated into loss mitigation strategies.  The CFPB outlines four principles:  accessibility, affordability, … Read More