Partial-Claims Preparation
First American's partial-claims product offers lenders and loan servicers a simple, convenient process for creating partial-claim document packages. Partial-claim preparation is a default management tool offered by HUD to assist borrowers who have fallen behind in their payments.
In partial-claim transactions, delinquent amounts are held by HUD as a subordinate lien against the mortgaged property, which is due in full once the original loan is paid off.