Servicers have known the loss mitigation waterfalls enacted during the COVID-19 pandemic were eventually going to change. But a recent acceleration of the new governance has left the industry with only six months to make critical adjustments to loss mitigation workflows.

When the U.S. Department of Housing and Urban Development (HUD) issued a Mortgagee Letter outlining the loss mitigation program changes, the effective date was set for February 2026. However, a new letter issued in April moved the implementation deadline up to Oct. 1, 2025, leaving servicers with a much tighter time frame to ready their teams and technology to details ⇒

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