FHA Foreclosure Practical Guide

Product Code: AO-FHAFPG, Practical Guide

Servicers and lenders make every effort to work with the borrower in an effort to reinstate a delinquent loan. Despite these efforts, it sometimes becomes necessary to foreclose a loan. Learn about the process of FHA foreclosure — selling the property to secure the mortgage debt in order to pay off the balance due the lender — in AllRegs Academy’s FHA Foreclosure Practical Guide.

In this searchable, online guide, you will learn about the state laws that govern the FHA foreclosure process. You will also learn statutory concerns, types of loans, such as FHA, VA and conventional. Each type of loan requires certain process steps that must be in place in order to accomplish foreclosure. Written by industry experts with a combined 60 years of experience, the information provided in this guide is linked to additional, supplemental information available through AllRegs.

What's Inside

In this practical guide, you will learn about the following activities regarding FHA foreclosure:

• Referring the loan to an attorney or trustee to begin foreclosure
• Monitoring the work of the foreclosure attorney or trustee to ensure time frames set by HUD and investors are met
• Providing documents and information to appropriate parties
• Ensuring that property preservations measures are in place
• Providing payoff and reinstatement statements
• Providing bid figures for the foreclosure sale
• Responding to telephone calls from borrowers, realtors, attorneys
• Reporting sale results to investors or insurers
• Filing claims for losses with investors or insurers

Target Audience

The FHA Foreclosure Practical Guide is designed for use by the following mortgage professionals:

• Mortgage servicers
• Loan processors
• Underwriters
• Processors
• Operations managers
• Quality control auditors
• Quality assurance professionals
• Compliance auditors and specialists
• Loan officers and loan originators
• Mortgage bankers
• New mortgage professionals or new hires
• Any mortgage professional looking for a refresher or introduction to the mortgage process
• Mortgage professionals looking to move from one area of the business to another

Authors

Linda S. Chandler

Linda S. Chandler is an author and course developer with over 30 years of mortgage industry experience in various areas of loan servicing, with an emphasis on escrow administration and foreclosure processing. She was a department manager at various companies over the years. She is the author of the Handbook of Escrow Procedures, originally published in 1996 by the Mortgage Bankers Association (MBA) and updated in March 2001. Other authored publications include:

• Escrow 2003 Training Package
• Insurance 2003 Training Package
• Insurance State Laws
• Handbook of Real Estate Taxes for Pennsylvania and New Jersey
• Save Money on Your Mortgage Loan

Judy A. Whiteside

Judy A. Whiteside is an author and course developer with over 30 years experience in the mortgage industry. She has managed several departments, including Shipping, Customer Service, Cashiers, Collections, Foreclosures and Bankruptcies. Judy and Linda S. Chandler are co-authors of the following publications:

• Escrow Department Training Manual, Loan Administration
• Escrow Analysis Training Manual
• Mortgage Servicing for Beginners
• FHA Foreclosures Training Manual

Subscription Information

Subscriptions are based on site-wide licensing. All users at one company site have access to the FHA Foreclosure Practical Guide. The annual subscription rate for one location is $495.

For more information, call our sales and customer service department at (800) 848-4904 or email sales@allregs.com.