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Can the Loss Mitigation Letter be sent on the 45th day of delinquency on all loans regardless of previous modification or date of origination?

Published 08/09/2012 08:04 AM   |    Updated 08/09/2012 01:15 PM

Can the Loss Mitigation Letter be sent on the 45th day of delinquency on all loans regardless of previous modification or date of origination?

There are no restrictions on sending the Loss Mitigation Letter but it must be sent no later than the 45th day on an Early Payment Default and no later than the 75th day on all other reportable defaults.