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Loss Mitigation

Latest Posts

PMI Gets Aggressive on Loan Modifications 

May 12, 2008By

The PMI Group, Inc. [stock PMI][/stock] said late Friday that it had loosened its previous restrictions on loan modifications, in a clear effort to empower servicers to do more to keep troubled borrowers in their home. Essentially, the new guidelines allow mortgage servicers more leeway in determining a workout strategy than in the past, when most were bound by what was described by one servicing executive as a “lock-step” approach to loss mitigation.