Aug 11 20:42
1 mo ago
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English term

Default servicing

English to Spanish Law/Patents Law (general) Default servicing
When homeowners fall behind on payments, they are considered delinquent and require personal assistance from their servicers. When the homeowner becomes delinquent or when default appears imminent, the borrower enters default servicing. Default servicing is often referred to as loss mitigation because the servicer’s ultimate goal is to minimize the losses of both the investor and the homeowner.

First step—communication. The first step in default servicing is to contact the homeowner and determine why a payment wasn’t made. Perhaps the homeowner forgot to make a payment or was late because of some other problem that is relatively easy to resolve.

Desde ya muchas gracias por la ayuda.

Proposed translations

10 hrs
English term (edited): (US-only) default servicing

gestión de la deuda hipotecaria a riesgo crediticio de atraso

> if that's what means in the US of A.

In the UK, it would mean - for instance - relief cleaners aka char ladies coming in to tidy up a property when the regular staff is or are away or 'in default'.
Example sentence:

La gestión de la deuda hipotecaria puede ayudarle a generar valor líquido en su vivienda.

El riesgo de crédito, o riesgo crediticio, es la posibilidad que tiene un acreedor de sufrir pérdidas derivadas de un impago, parcial o total, de los créditos

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13 hrs

servicios relacionados con el incumplimiento de las obligaciones financieras

Default servicing is often referred to as loss mitigation because the servicer’s ultimate goal is to minimize the losses of both the investor and the homeowner.
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+1
18 hrs

administración de incumplimiento crediticio

In the source text definition (https://www.urban.org/policy-centers/housing-finance-policy-... default services are a part of loan servicing (https://www.investopedia.com/terms/l/loan_servicing.asp).
Typically back-office, administrative work.



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Note added at 18 hrs (2024-08-12 15:41:08 GMT)
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Servicer: administrador o agente.

CONSUMER FINANCIAL PROTECTION BUREAU | OCTOBER 2018
Glossary of English-Spanish Financial Terms

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Note added at 19 hrs (2024-08-12 15:58:22 GMT)
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Definition.

Mortgage Default Services means services undertaken in connection with residential mortgage defaults including, but not limited to, the processing of foreclosure sales, evictions and bankruptcy filings, but excluding in each instance any Legal Services; provided, however, Mortgage Default Services shall not include any service of process, auction services, title services, and posting and newspaper publication services.

https://www.lawinsider.com/dictionary/mortgage-default-servi...
Example sentence:

En los préstamos vehiculares, la mayoría de los prestamistas gestionan y administran sus propios préstamos, pero ocasionalmente algunos prestamistas utilizan a un tercero para los servicios de administración del préstamo. https://www.consumerfinance.

Peer comment(s):

agree patinba
20 hrs
Thanks Pat.
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