MBA to Teach Loss-Mit Class
CampusMBA, the educational division of the Mortgage Bankers Association, has created an instructor-led loss mitigation workshop for industry professionals. The option comes at a time when lenders are struggling to beef up their loss mitigation expertise.
John Golden, MBA's senior vice president for education, said mortgage companies are starting to realize that formal training is important for preparing their busy servicing staff for the increase in default management work. He said the loss mitigation workshop is an example of how CampusMBA is responding to that need.
"We are in constant contact with our members and practitioners across the industry, and they are always pushing us in the direction where the greatest needs are," Mr. Golden said. "The goal is, at the end of the one-day boot camp, they can go back to their jobs and begin implementing these plans immediately."
The workshops, taught by industry experts, are described as "boot camp" style training sessions for managers, counselors and loan servicing professionals. The workshops cover areas including common reasons for default, investor and insurer loss mitigation requirements, and workout options. The workshops consist of five hands-on exercises that include the design of a loss mitigation workout plan. An online final exam is available upon conclusion of the workshop. The first workshop will take place on June 10 at First American's campus in Westlake, Texas. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/