Loss Mitigation/Collection Valuations

To clarify how Cenlar obtains values relative to loss mitigation and collection related activity, please review our policy below.

Cenlar’ s policy for obtaining any value utilized during the loss mitigation/collection process are:

  • dependent upon the investor and/or  insurer guidelines as to the type of valuation being utilized (i.e. AVM, interior BPO, exterior BPO or  appraisal);
  • strictly adhered to GSE, FHA, USDA and VA requirements;
  • following Fannie Mae guidelines for any loans where we do not have specific procedures;
  • to follow our Clients matrix of specific valuation types and processes required for each investor for their asset or other investor loans;

It should be noted that a review of the value is used as a factor in rendering a decision on modifications and/or non-retention alternatives as part of standard and customary servicing standards.