The American Securitization Forum (ASF) today issued operational guidelines that assist mortgage loan servicers and counseling organizations in implementing procedures for reimbursing expenses that are associated with the provision of borrower counseling services.

These set of guidelines follow the ASF’s October 2007 guidance that borrower counseling fees can be reimbursable from securitization cashflows if the servicer concludes that the counseling service has or is probably going to mitigate losses and maximize recovery on loans that are in default or in instances where default is reasonably foreseeable.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.