Mortgage Loan Foreclosure Process Workflow Template

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Overview: Mortgage Loan Foreclosure Process Workflow Template

This workflow template illustrates activities that occur before, during and after a mortgage loan is foreclosed on, including the initial customer contact, property inspection and foreclosed property sales. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand the Mortgage Loan Foreclosure business process.

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Process Details and FAQ: Mortgage Loan Foreclosure

What is Mortgage Loan Foreclosure?

Mortgage Loan Foreclosure includes a set of processes that are triggered when a borrower is 60 or more days past due on their mortgage loan payments. The foreclosure process begins with a letter sent to the borrower when their loan deliquency has reached a certain threshold - typically 60 or more days past due (60+ DPD). At that point, the borrower is presented with options to complete payment or modify their loan to avoid foreclosure. If the lender and borrower cannot reach an agreement, the property moves into foreclosure - during this time, the bank inspects the property to assess its value and condition, and prepare for sale.

Which KPIs, or metrics, are typically used to measure this process?

The following metrics are typically involved in the Mortgage Loan Foreclosure process:

  • 1.90+ DPD Loans as a Percentage of Loans Serviced
  • 2.Cycle Time: Foreclosure Sale
  • 3.Loss Mitigation Success Rate
  • 4.Number of Mortgages in Foreclosure per Foreclosure Employee
  • 5.Unit Cost: Foreclosure Sale

Which employees and/or departments are involved in this process?

The following parties are typically involved in the Mortgage Foreclosure process:

  • Customers (Borrowers)
  • Mortgage Loan Servicing Staff
  • Collections Staff
  • Property Preservation Staff
  • Foreclosure Sales Staff

What is the purpose of these workflow templates?

Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.

How are these workflow templates created?

These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.

How do I download a workflow template?

Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the workflow template in PDF and Visio formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.

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  • Workflow Template


    Mortgage Loan Foreclosure

    - Instantly download files
    - Includes PDF, VSD file formats
    - Customize the Visio version
    - Workflows mapped in BPMN 2.0


    Call: 844-650-2888


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