Loss Mitigation: Nonretention Options
Foreclosure Postponement
You have delegated authority to postpone a scheduled foreclosure sale in order to pursue a forbearance, repayment plan, loan modification or short sale. This delegation pertains only to the postponement of the foreclosure sale. MGIC's liability (interest and expenses) may be limited to state time frames (see section 3.02 of MGIC's Default Servicing Guide).
Loss mitigation workouts that do not meet MGIC's delegated guidelines must be submitted to MGIC for prior approval.
Guidelines
See section 2.01 of MGIC’s Default Servicing Guide.
Submission
Submit requests for approval and required documentation via MGIC/Link Servicing. Select Other Workout Types in the main menu.
Support
Contact MGIC Customer Service, customer_service@mgic.com or
1.800.424.6442.