A Georgia borrower whose application was received 120 days before a sale disputes the loss mitigation outcome. What independent appeal or mediation opportunity must be available for the disputed outcome?
Correct Answer
C) An appeal to different personnel, or mediation, must be available
A servicer must have a process for borrowers to appeal loss mitigation disputes, including a formal review by personnel different from those responsible for the previous evaluation, or offer mediation, where the application was received 90 days or more before a foreclosure sale. Other choices: the decision is not final; review by the same reviewer is what different personnel excludes; and default is not the trigger. Source: Ga. Comp. R. & Regs. 80-11-6-.02(2)(f)
Why This Is the Correct Answer
A servicer must have a process for borrowers to appeal loss mitigation disputes, including a formal review by personnel different from those responsible for the previous evaluation, or offer mediation, where the application was received 90 days or more before a foreclosure sale. Other choices: the decision is not final; review by the same reviewer is what different personnel excludes; and default is not the trigger. Source: Ga. Comp. R. & Regs. 80-11-6-.02(2)(f)
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