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Module # 7 - Pre Foreclosure Sale Option

Module # 7 - Pre Foreclosure Sale Option

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Published by: Kevin M. Lancaster Willson on Feb 18, 2012
Copyright:Attribution Non-commercial

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05/13/2014

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"'Il/:,
MODULE#7-
PreforeclosureSaleProgramOption
Goal-
EnableTraineestoreview,qualifyandprocessthePreforeclosureSaleProgramOption
OIl
adefaultedFHA-insuredmortgage.
Objectives-
BytheendofthisModuleTraineeswillbeableto:1.IdentifyPreforeclosureSaleProgramqualificationcriteria.
,
2.RecognizesupportingdocumentationLendersmustmaintainintheclaimsreviewfile.3.RecognizeLendersaccountabilityforthequalityofPreforeclosureSaleFHAAppraisals.4.Be
aware
ofthedurationofthePreforeclosureSaleProgramtimeframes.5.BeawareofReportingRequirementsandconsequences.
ReferenceMaterials
MortgageeLetter2003-19-PartialClaims:ProgramChangesandUpdatesMortgageeLetter2008-43-PreforeclosureSaleProgram-UtilizingthePreforeclosureSaleLossMitigationOptiontoAssistFamiliesFacingForeclosureMortgageeLetter2010-08-HUDREOAppraisalValidityPeriodandSecondAppraisals
HUD
ApprovedHousingCounselingAgencies-
i).ltp:llwww.hud.g9v/officcs/hsg/sfhlhcc/hcs.cfpl
PreforeclosureSaleProgramFAQ-
http://portal.hud.gov/hudport;)lIHUD?src=:::/[2rogram
officcs/hollsing/sthhlsc/faqpfs
FHAAppraisers-
L"l.UQJ(PQ.rtal.huc,L_gov/hudQ.QrtaIlHUD?src=/groL!.I2.::;!.;,U:W..raisers
HUDClips-
b.!.!J2.://www.hud.gov/offices/adm/hudcljps/lcttcrs/rnongagec/ip.dcx.c[m
PreforeclosureSaleProgramFactSheetQUIZ
7-1
 
PreforeclosureSaleProgram
7-2
 
PreforeclosureSaleProgram
PreforeclosureSaleProgram
LoanDefault
7-3

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