The course begins with a review of procedures for bidding and payment of claims under the Claims Without Conveyance of Title program. Next, we review a mortgagee’s responsibility for taking reasonable actions to protect the value of the collateral property until title can be conveyed to HUD.

We will also review requirements for Presidentially Declared Major Disaster Areas and how that impacts servicing processes and procedures. Whenever the President declares a major disaster, the mortgagee may be required to implement servicing related procedures for the eligible designated area. This course describes the process for servicing impacted borrowers.