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HUD's Loss Mitigation Program - Home Disposition


Description
This module provides mortgagees with an overview of FHA’s disposition options when home retention is not feasible. The training will address general eligibility requirements for the Pre-Foreclosure Sale program, property valuation and condition standards, and borrower participation requirements. Mortgagees will also receive guidance on marketing and sale procedures, as well as deed-in-lieu of foreclosure requirements, to ensure compliance with HUD policy and support efficient resolution of defaulted mortgages.
Content
  • Introduction
  • Introduction
  • Disclaimer
  • How to Use Handbook 4000.1
  • Learning Objectives
  • Agenda
  • Home Disposition Options
  • I. Pre-Foreclosure Sale - General Eligibility
  • Pre-Foreclosure Sale - General Eligibility
  • Pre-Foreclosure Sale: PFS Outreach Requirements
  • Pre-Foreclosure Sale: PFS Options
  • Pre-Foreclosure Sale: PFS Options (cont.)
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • II. Property Valuation and Condition
  • Property Valuation and Condition
  • Pre-Foreclosure Sale: Property Valuation
  • Pre-Foreclosure Sale: Property Valuation (cont.)
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • Pre-Foreclosure Sale: Property Condition
  • Pre-Foreclosure Sale: Property Condition (cont.)
  • III. Participation Requirements
  • Participation Requirements
  • Pre-Foreclosure Sale: Condition of Title, Owner-Occupant Borrower Certification
  • Pre-Foreclosure Sale: Approval to Participate
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • IV. Marketing and Sale
  • Marketing and Sale
  • Pre-Foreclosure Sale: Use of Real Estate Broker
  • Pre-Foreclosure Sale: Arm's Length Transactions
  • Pre-Foreclosure Sale: Pre-Foreclosure Sale Marketing Period
  • Pre-Foreclosure Sale: Evaluation of Offers
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • V. Deed-In-Lieu
  • Deed-In-Lieu
  • Deed-in-Lieu of Foreclosure
  • Deed-in-Lieu of Foreclosure: Borrower Eligibility
  • Deed-in-Lieu of Foreclosure: Borrower Eligibility (cont.)
  • Deed-in-Lieu of Foreclosure: DIL Agreement
  • Deed-in-Lieu of Foreclosure: DIL Conveyance to HUD
  • Deed-in-Lieu of Foreclosure: DIL Conveyance to HUD (cont.)
  • Check Your Knowledge
  • Check Your Knowledge - Answer
  • Resources and Conclusion
  • Learning Summary
  • Helpful Links
  • FHA Resource Center
  • Conclusion
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: Forever