Guide to the Foreclosure Settlement: A Model for National Standards


“We are not sure how far down the line we’ll go to seek agreements, but we obviously will move in that direction.”

--Tom Miller, Attorney General, State of Iowa


The recent $25 billion foreclosure settlement applies to only five servicers. But the government regulators, by their own admission, will be looking to apply some of the same restrictions and guidelines to a much larger group of servicers. Legal experts agree that national servicing standards will likely look a lot like the new rules that the five largest servicers now have to live by.

Inside Mortgage Finance breaks down the settlement requirements in the new easy-to-understand Guide to the Foreclosure Settlement: A Model for National Standards. This special report covers all aspects of the agreement and includes analysis from those directly involved in the negotiation. You’ll understand

  • What the settlement sets out as servicing standards,
  • What is required in terms of loan modifications, refinances, and other loss mitigation,
  • How the agreement will be enforced, and
  • How it all applies to other servicers.

As AG Miller said, “Everybody [should] take the settlement’s servicing standards very seriously, to implement them to the fullest extent that you can.”

Learn what is headed your way and get a start on adapting your systems.


Partial Table of Contents:

National Servicing Standards

+ Foreclosure Information and Documentation

+ Third-Party Provider Oversight

+ Dual Track Foreclosures

+ Single Point of Contact

+ Online Loan Portal

+ Loan Mod Timelines

+ Independent Evaluation of Mod Denials

+ Transfer of Servicing

+ Protections for Military Personnel

+ Servicing Fees


Loan Modification Requirements

+ Consumer Relief Requirements

+ Principal Reduction

+ First-Lien Mods

+ Second-Lien Portfolio Mods

+ Actions by Subservicers


Refinance and Other Loss Mitigation Requirements

+ Short Sales

+ Deficiency Waivers

+ Forbearance for Unemployed Borrowers



+ Settlement Monitor

+ Internal Review Group

+ Quarterly Reports

+ Potential Violations and Right to Cure

+ Releases from Liability

+ Implementation by Servicers


Price with shipping in U.S. - $367.00
Price with shipping elsewhere - $417.00

Please contact Customer Service if you need assistance: 1-800-570-5744


With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

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Yes and, heck, we may even do non-QM lending.
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