Changes are being made to the procedures on government-insured mortgages that will reduce the number of steps needed to resolve delinquency and modify the loans.
An announcement Thursday from the Federal Housing Administration revealed new procedures intended to strengthen the process servicers use to avoid foreclosure.
FHA said that it is streamlining its loss mitigation protocols that residential loan servicers need to utilize when they are evaluating and deploying home-retention options.
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From:: Financing