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Loss mitigation has been a tool used by lenders for decades, but experienced tremendous growth since late 2006. [4] This rapid expansion was in response to the dramatic increase in foreclosures nationwide. [5] Prior to late 2006, early 2007; Loss Mitigation was a tiny department within most lending institutions.
Loss mitigation is a way for mortgage lenders to help borrowers who are struggling to make their monthly payments avoid losing their homes. You can keep your home with many loss mitigation options ...
The actions of the defendant may also result in the mitigation of damages which would otherwise have been due to the successful plaintiff. For example, the Civil Law (Wrongs) Act 2002 (ACT) provides that mitigation of damages for the publication of defamatory matter may result from any apology made by a defendant and any correction published ...
FEMA's Mitigation Directorate [56] is responsible for programs that take action before a disaster, in order to identify risks and reduce injuries, loss of property, and recovery time. [57] The agency has major analysis programs for floods, hurricanes and tropical storms, dams, and earthquakes. [57] [58]
As of Feb 1, 2012, all inspections must have photos showing each feature listed on the wind mitigation form. [1] The uniform mitigation verification inspection form (commonly referred to as form 1802) created by the Florida Office of Insurance Regulation is divided into 7 sections and is used to verify the presence of windstorm mitigation ...
Mitigation planning identifies policies and actions that can be taken over the long term to reduce risk, and in the event of a disaster occurring, minimize loss. Such policies and actions are based on a risk assessment , using the identified hazards , vulnerabilities and probabilities of occurrence and estimates of impact to calculate risks ...
Environmental mitigation refers to the process by which measures to avoid, minimise, or compensate for adverse impacts on the environment are applied. [1] In the context of planning processes like Environmental Impact Assessments, this process is often guided by applying conceptual frameworks like the "mitigation hierarchy" or "mitigation sequence". [2]
The application of mitigation banking has been expanded beyond wetlands to include streams and other aquatic habitats. [36] This led to the creation of the first stream mitigation bank in Fox Creek, Missouri in 2000. [37] The concept has also been expanded to develop other forms of biodiversity banking, including conservation banking for ...