Servicing Transfers
Servicing transfers should be seamless for borrowers. Generally,
transferee servicers must comply with the loss mitigation requirements
of the servicing rules within the same timeframes that were applicable
to the prior servicer. Knowing that this can be challenging when loss
mitigation applications are received shortly before transfer or are
pending evaluation at the time of a transfer, the 2016 Amendments
define transfer date and revise requirements for compliance with
certain loss mitigation rules when loans are transferred.
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