No Dual Tracking | National Mortgage Settlement
Tweet In agreement with the National Mortgage Settlement, the five major loan servicers can no longer be able to proceed with a foreclosure sale if a short sale or deed-in-lieu of foreclosure has been approved by all parties (first lien investor, junior lien holder, mortgage insurer) and proof of funds or financing has been provided...
- April 03 Tuesday, 2012
- By Administrator
- In Foreclosure
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In agreement with the National Mortgage Settlement, the five major loan servicers can no longer be able to proceed with a foreclosure sale if a short sale or deed-in-lieu of foreclosure has been approved by all parties (first lien investor, junior lien holder, mortgage insurer) and proof of funds or financing has been provided to the loan servicer. Loan servicers also will face stringent foreclosure referral guidelines if borrowers have requested a loan modification.
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