You probably saw FHA's statement yesterday adopting new safeguards for their loss mitigation framework.
Our Chief Compliance Officer Matt Tully shared a few thoughts on the matter:
FHA's announcement revising homeowner hardship relief starts to bring mortgage loss mitigation practices back to a pre-COVID state.
During COVID, extended forbearance was needed, and some of these policies were made permanent in post-COVID years until now. This FHA action acknowledges that the market has normalized, and seeks to balance homeowner hardship relief with an FHA MMI fund that’s stable over the long-term.
For homeowners who become strained, being eligible for one permanent loss mitigation option every 24 months instead of every 18 months is still favorable.
For servicers who must operationalize these post-COVID policies by October 1, 2025, Sagent will ensure they’re ready by or before the deadline just like we did with every loss mitigation policy change deadline in the COVID era.
If you're attending Sagent's Ignite 2025, this topic is sure to come up among many other market-relevant discussions on the packed agenda.
In the meantime, scroll on to see how we're driving efficiency, compliance, and cost reduction with improvements throughout our products.
The June 2025 release will be implemented into production on Friday, June 20. A list of projects being implemented, along with their corresponding project documentation is available on theclient websiteat Software Releases>June 20, 2025.
Upcoming Release with LOI Processing Lockout Period
The LoanServ April release includes a project (CP0061314) that adds the Last Full Payment Date to the Loan Origination Interface (LOI) File. The changes with this project require Sagent to hold LOI processing temporarily on Thursday, April 24 from 5:55 pm ET until just after the nightly batch processing begins for your region. During this time, clients may transmit LOI files and Sagent will process them after the lockout period ends. If you have any questions, please contact Sagent Customer Support.
Upcoming CARE DRE
Sagent will conduct a Disaster Recovery Exercise (DRE) on Saturday, May 10th from 10:00 pm to 6:00 am EST. The CARE production region will be unavailable for use during this time. We appreciate your patience.
CARE April 2025 Pre-release Documentation
The next CARE release is scheduled to be implemented on Thursday, April 24. Pre-release notes for the April release are available onthe client websiteat CARE>April 24, 2025 Pre-release Notes.
Upcoming Releases
Sagent has Spring fever, and the only medicine is more RELEASES!
4/24: CARE and LoanServ
4/25: DataScape
4/26: Dara Default and TEMPO
*Reminder, you can see all 2025 Release dates on the events calendar on Sagent Support
Experience Ignite (and bring your default attorneys)
Registration is still open for this year's customer summit, Lights, Camera Ignite 2025. Come to Dallas on May 5-7 to be treated like a celebrity while networking and learning alongside more of our industry's best. Plus, this year is open to attorneys, so share the link with any of your network you'd like to attend. Once you register, you'll receive an email with a link to reserve your room.
Cheers,
the Sagent Customer Success Team
Sagent, 1000 Continental Drive, Suite 570, King of Prussia, PA 19406, United States, 484-673-1100
