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Home » Store » Taxable » HUD Wants to See More Loss Mitigation in Disaster Areas, Vows to Hit Least Exertive Servicers with Treble Damages

HUD Wants to See More Loss Mitigation in Disaster Areas, Vows to Hit Least Exertive Servicers with Treble Damages

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The Department of Housing and Urban Development warned this week of more aggressive enforcement of treble damages against mortgage servicers that fail to perform loss mitigation, particularly in areas hit hardest by natural or man-made calamities. In panel discussions during an FHA conference this week in Arlington, VA, HUD officials said the agency is working to establish an enforcement process to make sure that the heaviest penalties apply to the worst servicers and the…
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