Adapting to change: Innovation and transformation in loss mitigation 

We are seeing tremendous transformation within the loss mitigation space. Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation of FHFA, Dodd-Frank, and the CFPB. Hardships have been expanded to include weather disasters and the COVID-19 pandemic. More recently, we have seen an extension and expansion of loss mitigation remedies with VASP and related government programs, and on the immediate horizon, many changes to Regulation X.