Example - A servicemember submits a loss mitigation application and
states a preference for a short sale. The servicer couldn't stop collecting
documents and information needed to evaluate the application for other
loss mitigation options based solely on the borrower's stated preference.
However, if requirements established by the owner or assignee provide
that a borrower stating such a preference is ineligible for home retention
options if the borrower has received permanent change of station orders,
once the servicer receives information confirming the PCS orders, the
servicer may stop collecting documents needed for home retention
options.
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Document Collection Example
