Loss mitigation

Credit Plus in Salisbury, Md., has introduced loan repurchase insurance for mortgage lenders and servicers that use its verification products.

Agency and government loan programs will be a little different in the next 12 months. There also will be new rules for private-label securitizations, along with new products available to investors. Here is an overview.

Home Equity Conversion Mortgage servicers have received an additional three months to explore loss mitigation options when borrowers or their spouses have difficulty paying their property taxes and insurance.

Fannie Mae said that those affected by floods across the Midwest may have access to mortgage assistance.

East West Bancorp paid $118.4 million to terminate single-family and commercial shared-loss agreements with the Federal Deposit Insurance Corp., tied to a failed bank acquisition.

Fannie Mae has updated its underwriter servicing tool to make it easier for servicers to determine the eligibility of distressed homeowners for a loan modification.

HLP, formerly known as Hope LoanPort, has selected CoreLogic executive Faith Schwartz as chair of its board of directors.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

The number of underperforming loans transferred to special-servicing status dropped in October, according to Fitch Ratings.

Freddie Mac has launched an auction of $1.2 billion of nonperforming loans, while Fannie Mae has announced the two winners of its recent auction of $1.24 billion of nonperforming loans.