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The term "loss mitigation" refers to a loan servicer’s duty to mitigate or lessen the loss to the investor (the loan owner) resulting from the borrower’s default.Given the costs that an investor must bear through the foreclosure process, loss mitigation is intended to be beneficial for the investor.

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LOSS MITIGATION PROGRAM PROCEDURES I. PURPOSE The Loss Mitigation Program is designed to function as a forum for debtors and lenders to reach consensual resolution whenever a debtor’s residential property is at risk

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