Loss Mitigation Update audio conference (W)

Product Details

• An audio CD so you can listen to the entire discussion, including Q&A with FHA officials and industry leaders;
• The conference manual, which includes a program outline, speaker bios, presentations, and contact information plus value-added articles from the pages of Inside Mortgage Finance;
• A full transcript, including the audience Q&A sessions—a favorite part of these events.

Lenders and servicers may not have wanted all the experience they’re getting at loss mitigation, but should welcome another tool to keep people in their homes. October marked the debut of FHA’s new HOPE for Homeowners program, designed for distressed homeowners whose mortgage balance exceeds the current appraised value of their house. One large lender has estimated that it expects to do over $2.5 billion in H4H loans—you need to know about this opportunity. Listen to this audio conference for all the details of this complex new program—an effective bailout for qualified borrowers.

As part of the government’s “rescue” plan there will be an even stronger emphasis on aggressive loss mitigation efforts. The industry will feel more pressure to modify loans and needs to understand the options.

Although loss mitigation depends on the borrower’s circumstances, servicers encourage people to discuss workout solutions, such as repayment plans, loan modifications, short-term refi and short sales. This panel of experts discusses how loss mitigation has evolved and what strategies and tools you can use to reduce your losses and satisfy investors.

Speakers for This Event:

• Margaret Burns, Director of the Office of Single Family Program Development, FHA;
• Laurie Maggiano, Senior Policy Advisor, Office of Single Family Asset Management, FHA;
• Tom Deutsch, Deputy Executive Director, American Securitization Forum;
• Allen H. Jones, Senior Vice President, Government Lending Enterprise Executive, Bank of America; and
• Guy Cecala, Publisher, Inside Mortgage Finance, moderates.

Listen to This Audio Conference and Learn:

• Who are the eligible borrowers for the new HOPE for Homeowners (H4H) program;
• What complicates principal write downs;
• How to determine the new loan amount for H4H mortgages;
• When are loan modifications the best option;
• How subordinate financing affects loans in the H4H program;
• The difference between HOPE for Homeowners and FHASecure;
• How the H4H program’s equity sharing works;
• What servicers are dealing with day-to-day and the trends that have emerged;
• What re-default rates others are experiencing; and
• Other loss mitigation strategies and trends in today’s distressed mortgage market.