What is the AHP homeowner outreach efforts process?

Published on April 25th, 2017 by

After we purchase a loan, letters and phone calls are forwarded to borrowers inviting them to submit a loss mitigation application. All applications received back are promptly reviewed and borrowers are promptly notified of their options.  Our approval letter typically has actual numbers that are approved for the particular borrower. These are based on formulas derived from the property value and existing loan terms. We share some of our acquisition discount with the borrower to make these options as attractive as possible. We require minimal documentation from the borrowers in order to make it easier for the borrower to proceed.


 If the borrower does not respond within regulatory timeframes, we may continue or initiate foreclosure. This is often a long process, and the goal of the action is to provoke a response from homeowners who in many cases have not paid on the mortgage in years. In many cases, borrowers will not react until the foreclosure sale is just days away. We will work with borrowers who wait, including some who do not talk to us until even after the sale has occurred. If borrowers wait, the numbers will still be attractive but not as much as the first offer, because we need to account for the additional time and costs.

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