Mortgage Lending · Servicing
Loss mitigation workflows
A step-by-step guide for how a servicer handles borrowers who fall behind, from first contact through a workout or foreclosure referral.
What it usually contains
- Timelines for outreach, solicitation letters, and required borrower notices
- Steps for taking a loss mitigation application and requesting missing documents
- Review and decision criteria for repayment plans, forbearance, modifications, short sales, and deeds in lieu
- Approval authority levels and escalation or appeal handling
- Foreclosure referral and dual-tracking hold rules
What the assistant uses it for
Answer questions about what a servicer must do at each stage of delinquency, how long each step takes, and who approves a workout option. Also useful for checking whether borrower contact, document collection, and foreclosure timing follow required practice.
How it is versioned
A document of this type has exactly one current version at a time. Upload a revision and it becomes the version that counts — the one before it is kept and dated, but is no longer what your assistant answers from. Nothing is ever deleted, so you can always show what this document said on a given date.
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