To improve the customer experience, Bank of America has enhanced it's home retention application and document collection process in an effort to help customers explore all opportunities to resolve their mortgage delinquency. Changes to their home retention evaluation process have been implemented to support that commitment.

What has changed?

Application & document collection process:

A…

Fannie Mae and Freddie Mac announced changes to their Servicing Guides aimed at helping more borrowers avoid foreclosure through short sales and deeds-in-lieu of foreclosure (DILs).

Some of the changes are to align with…