| Public Course Delivery Method: Classroom Course
Duration of Course: 1 day
About this Course (Updated for 2010)
Today, lenders and servicers face unprecedented pressures to comply with regulatory and investor requirements in providing effective loss mitigation options to borrowers. Updated for 2010, this timely one-day interactive workshop, presented by industry experts, provides both early intervention skills and updates on modification, short sale and refinance options to those responsible for loss mitigation workouts. It is constantly being updated in order to keep relevant in this time of rapid change and demand. The workshop is a great opportunity for servicing managers to observe how key resources can be focused on preventing future default by developing the skill sets and tools to effect early intervention.
Participants gain insight on common reasons for default, investor and insurer loss mitigation requirements, and the newest loss mitigation options. Throughout the day, participants engage in hands-on exercises which focus on the challenges within the portfolios they are managing. The workshop culminates with an activity that allows participants to practice designing a complete loss mitigation workout plan.
An online final exam will be made available following the workshop.
Workshop Objectives
At the end of the Loss Mitigation Workshop, students will be able to:
- Understand the role and importance of loss mitigation and the financial impact to the lender / servicer
- Understand how important it is to determine temporary or permanent hardship
- Identify quickly the appropriate retention or disposition measures
- Understand insurer and investor loss mitigation requirements.
- Determine the suitability of a particular option and measure the probability of success.
- Understand how to implement the newest Making Home Affordable Programs
Who Should Attend
Taught by industry experts, this boot camp-style workshop is designed for servicing managers, supervisors, customer service counselors and other loan servicing staff responsible for performing and monitoring loss mitigation workouts.
 | | What our corporate clients are saying about this course
Below is a review from a private offering of this course:
 The class conducted at our shop this week was fabulous. Our staff felt it was a tremendous help to them and were most appreciative of the information and the manner in which it was presented.
I also took part in the class. I was coming at it from a completely different perspective having only trained on the Collections Workstation but never actually doing the job. By the end of the class, I was analyzing the client's financial information right along with everyone else to determine the best course of action in our practice exercise. The class was designed perfectly to suit all experience levels.
-Susan Brown, BB&T Mortgage, ML Servicing Training and QA
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