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Loss Mitigation Strategies

 

Learn how to effectively and quickly implement your loss mitigation programLoss mitigation remains a work in progress for mortgage servicers.

This is problematic because residential mortgage defaults are off record highs, but still remain high by historical standards. In addition, the Bureau of Consumer Financial Protection (CFPB)’s Mortgage Servicing Rules ??" which mandate detailed and complex loss mitigation procedures ??" are a focus of CFPB examination and enforcement efforts. For these reasons and others, a robust and effective loss mitigation program is critical to any business that engages in residential mortgage loan servicing. This topic will identify the goals of a successful loss mitigation program and the various types of loss mitigation prevalent in the market today. Learn how to implement those goals, provide an overview of current best practices in loss mitigation, and offer practical advice on how to successfully implement, manage and maintain an effective loss mitigation program. Defaulted loans are the bane of any servicing business, impacting investor relations, customer relations, risk management and above all cost. This information is critical for employees at every level of a servicing business, from officers and directors, to in-house legal staff, to the managers and employees of the loss mitigation department, to ensure that the entire organization knows how best to effectively and quickly implement your loss mitigation program.

Agenda

Faculty

Thomas M. Hanson

Thomas M. Hanson

McGlinchey Stafford PLLC

  • Member in the Dallas office of McGlinchey Stafford PLLC
  • Practice encompasses all aspects of representation of consumer financial services companies, with an emphasis on litigation for residential mortgage servicers and originators
  • Co-editor of Practising Law Institute’s Consumer Financial Services Answer Book, and wrote “Residential Mortgage Servicing Chapter”
  • Frequent speaker at conferences and webinars sponsored by the ABA’s Consumer Financial Services Subcommittee, the Mortgage Bankers Association, the Practising Law Institute and the American Conference Institute
  • Licensed to practice in California, Michigan and Texas, as well as numerous federal district and appellate courts
  • J.D. degree, magna cum laude, University of California, Hastings College of the Law, San Francisco, CA; B.A. degree, University of Michigan, Ann Arbor, MI
  • Can be contacted at 214-445-2432 or [email protected]

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