Inquiry Routing & Information System (IRIS)
Under what circumstances would VA propose loss mitigation options?
With the new Loss Mitigation incentives and requirements regarding options, will this reduce if not eliminate VA representatives calling to propose workouts? Under what circumstances would VA propose loss mitigation options? The Servicer Guide states any VA proposed workouts would not receive incentive payments.
If VA determines that you have not adequately reviewed a borrower's circumstances and the homeowner has the ability to complete a workout or alternative, VA would then propose an option and you would not be paid an incentive if the alternative were successful.