Loss mitigation option definition

Loss mitigation option means a temporary or permanent loan modification, a forbearance agreement, a repayment agreement, a principal reduction, capitalizing arrears, or any other relief intended to allow a mortgagor to retain ownership of the property.
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Loss mitigation option means an alternative to foreclosure, including loan modification, reinstatement, forbearance, deed-in-lieu, and short sale.
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Loss mitigation option means an alternative to foreclosure, including a loan modification agreement, a deed in lieu of foreclosure, and a short sale.
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Examples of Loss mitigation option in a sentence

  • Loss mitigation option means an alternative to foreclosure offered by the owner or assignee of a mortgage loan that is made available through the Servicer to the borrower.

  • Loss mitigation option means an alternative to foreclosure offered by the owner or assignee of a mortgage loan that is made available through the servicer to the borrower.

  • Loss mitigation option -- An alternative to foreclosure offered by the owner or assignee of a mortgage loan that is made available through the servicer to the borrower.


More Definitions of Loss mitigation option

Loss mitigation option means an alternative to foreclosure, including, but not limited to, a loan modification, shared appreciation mortgage modification agreement, reinstatement, forbearance, deed-in-lieu, or short sale.
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Loss mitigation option means an alternative to
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Loss mitigation option means an alternative to foreclosure,
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Loss mitigation option means, as set forth in 12 C.F.R. § 1024.31, an alternative to foreclosure offered by the owner or assignee of a mortgage loan that is made available through the servicer to the borrower.
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Loss mitigation option means an alternative to foreclosure offered by the owner or assignee of a mortgage loan that a mortgage servicer makes available to the borrower.
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Loss mitigation option means an alternative to foreclosure offered by the owner, holder, or assignee of a mortgage loan that is made available through the servicer to the borrower.
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Related to Loss mitigation option

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Compensation Options means the options of the Company to be issued to the Agent pursuant to Section 8.2 hereof to acquire Compensation Shares;

  • Renewal Option has the meaning set forth in §12.1.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Statewide special election means a special election called by the governor or the

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • Replacement Option has the meaning set forth in Section 3.06.

  • Option 1 [X] Yes, but only with respect to a Contributing Participant's Elective Deferrals.

  • Early Termination Notice is defined in Section 4.2 of this Agreement.

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Co-occurring disorder specialist means an individual

  • Insurance Program or “program” shall mean a program which has been designated as a major program of PRISM under which participating members are protected against designated losses, either through joint purchase of primary or excess insurance, pooling of self-insured claims or losses, purchased insurance or any other combination as determined by the Board of Directors. The Board of Directors, the Executive Committee, or a program’s governing committee may determine applicable criteria for determining eligibility in any insurance program, as well as establishing program policies and procedures.