Volume 7 - Number 1
January 3, 2014
HUD Announces Revised Tiered-Ranking for Servicers
The Department of Housing and Urban Development warned of tougher enforcement against servicers who do not make full use of HUDs loss mitigation tools, as it announced the implementation of a newly revised tiered servicer ranking system. The new system, Tiered Ranking System II, features a new scoring mechanism that would help HUD determine which lenders get higher reimbursement rates on claim expenses based on their servicing performance.
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