VA Issues VALERI Servicer Newsflash Regarding Reporting on Loans Impacted by Natural Disaster

In a recently published VALERI Servicer Newsflash , the VA indicated that Electronic Default Notification events on current loans that are impacted by a natural disaster should not be reported. As explained in the Newsflash, the “EDN event should only be reported prior to the 61st day of delinquency, with 'Property Problems' as the reason […]

Lessons from a disaster

On September 11, 2001, the twin towers of the World Trade Centre were destroyed in a terror attack. An event, equally momentous but more devastating in its impact on the world economy, occurred on September 15, 2008, when the American investment bank, Lehman Brothers, declared bankruptcy. Foreclosure News