Servicing for Mortgage Loans: Supplemental Information for Loss Mitigation Strategies
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Servicing for Mortgage Loans: Supplemental Information for Loss Mitigation Strategies

Filetype[PDF-28.02 KB]



Details:

  • Publisher's site:
  • Description:
    As supplemental information to FIL-76-2007 on the interagency "Statement on Loss Mitigation Strategies for Servicers of Residential Mortgages," the FDIC, the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) encourage servicers to consider the borrower's ability to repay modified obligations, taking into account the borrower's total monthly housing-related payments as a percentage of the borrower's gross monthly income (referred to as the debt- to-income or "DTI" ratio). Attention should also be given to the borrower's other obligations and resources, as well as additional factors that could affect the borrower's capacity to repay. DTI ratios exceeding 50 percent will increase the likelihood of future difficulties in repayment and delinquencies or defaults.
  • Content Notes:
    Supplement to FIL-76-2007
  • Format:
  • Release Date:
    09/04/2007
  • Update Date:
    09/04/2007
  • Withdrawn Date:
    11/17/2021
  • Agencies Involved:
    Federal Deposit Insurance Corporation (FDIC)
  • Fdic Employee Involved:
    Beverlea S. Gardner;Suzanne L. Clair;
  • Other Institutions Involved:
    Conference of State Bank Supervisors (CSBS);American Association pf Residential Mortgage Regulators (AARMR);
  • Source:
    FDIC Website
  • Memorandum To:
    FDIC-Supervised Banks (Commercial and Savings)
  • FIL Number:
    FIL-77-2007
  • Main Document Checksum:
  • File Type:

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