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Loss Mitigation Overview | Preparation | Loss Mitigation | Filing Claims
CU HomeKeepers | Loss Mitigation Webinar
Loss Mitigation & Claims
CMG MI understands that Credit Unions need strong support to deal with delinquent loans – and loans that may become delinquent sometime in the future. We can work closely with you on Loss Mitigation, Delinquencies and Claims issues to produce successful outcomes for your Credit Union and your Members.
Click on one of the links below to learn more:
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Important Notice: The National Credit Union Administration (NCUA) has issued a warning on the prevalence of loan modification/foreclosure rescue scams. The Financial Crimes Enforcement Network (FinCEN) has also posted several articles relating to this topic. Credit Unions should review the warning, the FinCEN articles and, if appropriate to the circumstances, legal counsel for the Credit Union, in order to be prepared to encounter potential fraud in their loss mitigation/loan modification efforts.
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CMG MI encourages its insureds to pursue all reasonable and legally appropriate means to mitigate potential losses they may sustain. The discussion in the pages that follow highlights some loss mitigation options for CMG MI insureds to consider. Please note, however, that CMG MI does not waive and expressly reserves all of its rights under the applicable First Lien Master Policy regarding the mortgage insurance coverage. CMG MI insureds should comply with all conditions and actions that the First Lien Master Policy requires for the insured. The insured’s failure to do so could jeopardize its coverage. If you have any questions about CMG MI’s First Lien Master Policy requirements, please contact Sandy Wong at (415) 284-2528, or email her at sandy.wong@cmgmi.com.
CMG MI Understands the Comfort of Home
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