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Adapting to change: Innovation and transformation in loss mitigation 

Oct 07, 2024 12:57 pmBy

We are seeing tremendous transformation within the loss mitigation space. Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation of FHFA, Dodd-Frank, and the CFPB. Hardships have been expanded to include weather disasters and the COVID-19 pandemic. More recently, we have seen an extension and expansion of loss mitigation remedies with VASP and related government programs, and on the immediate horizon, many changes to Regulation X.