The Mortgage Bankers Association's education arm, CampusMBA, said it has begun offering lenders and servicers a loss-mitigation training course it developed for Old Republic International Corp.'s Republic Mortgage Insurance Co.
Kevin Henry, Republic's loss mitigation group manager, said Monday in a press release that the Chicago mortgage insurer "approached CampusMBA with a need for loss mitigation training for our customers' front line servicing staff."
CampusMBA said it created the "boot camp-style workshop" and began delivering it to Republic's servicer customers within 45 days.
The course covers common reasons for default, investor and insurer loss mitigation requirements, and workout options and includes "hands-on exercises," including the design of a workout plan, CampusMBA said.
