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Once the items are compiled together, borrowers will have to send it to the Loss Mitigation department. information on the new FHASecure loan, visit Federal Housing Administration or the U.S.
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Loss mitigation is a stage that seeks to prevent foreclosure before it happens. It would be a good idea to get clear instructions from your client, but in the instances I recall doing them, I completed reports just like typical REO assignments. I have also done at least one assignment for FHA loss mitigation, and for that assignment, I.
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