“We have a long track record of being the first out of the gate when new loss mitigation requirements are handed down,” Schmidt said. “Being able to implement the PSA program today means our clients can stay compliant and reduce their losses while struggling borrowers receive the assistance they need to keep their homes—which has been our primary mission since day one.”
The PSA uses fewer partial claim funds, up to 60% less, to help servicers meet the 25% payment reduction goal, making more funds available if borrowers need additional assistance later.
Mortgage servicers working with DLS Servicing can implement the PSA in as little as two days, according to Schmidt, and receive advice, training, and practical strategies for navigating the program’s complexities.
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