Mortgage Servicing and Loan Modifications: 41(c)(1) Complete loss mitigation application.
1. Definition of “evaluation.” The conduct of a servicer’s evaluation with respect to any loss mitigation option is in the sole discretion of a servicer. A servicer meets the requirements of § 1024.41(c)(1)(i) if the servicer makes a determination regarding the borrower’s eligibility for a loss mitigation program.