Loss Mitigation
Loan workouts can preserve homeownership for borrowers and prevent losses as well. MGIC’s Master Policy requires you to cooperate with and assist MGIC in preventing and mitigating loss. Loan workouts must be offered to any borrowers who have the ability to cure the delinquency.
Home Retention Options
MGIC offers a variety of workout options designed to keep borrowers in their homes.
More Loss Mitigation Options
Guidelines
See MGIC’s Loss Mitigation Guidelines.
MGIC Delegated Servicing Authority
To facilitate your loss mitigation efforts, MGIC offers Delegated Guidelines to help streamline your default servicing processes. You can use this authority to approve or complete loss mitigation workouts without our prior approval.
Using Delegated Guidelines is optional; we are happy to work with you on any workout type.
