RMIC Recruits CampusMBA for Loss Mitigation Training

MBA (6/3/2008 ) Stokes, Aleis
CampusMBA, the education division of the Mortgage Bankers Association announced a training partnership with Republic Mortgage Insurance Co., Winston-Salem, N.C., a subsidiary of Old Republic International Corp.
The initiative is part of CampusMBA's rapid-response enterprise training solutions, which provide companies with comprehensive, specialized and robust training targeted to the needs of staff in support of overall strategic business goals.

RMIC protects lenders across the U.S. from losses due to defaults on first mortgages for single-family residential properties. Kevin Henry, RMIC's loss mitigation group manager, said the company approached CampusMBA with a need for loss mitigation training for its front-line servicing staff.

CampusMBA created a specialized loss mitigation course for RMIC and began delivering it to the staff of RMIC's customer servicing companies within 45 days of the project start date. The loss mitigation course, which is now being offered to industry professionals publicly, is a boot camp-style workshop designed for servicing managers, counselors, and loan servicing professionals who are responsible for performing and monitoring loss mitigation workouts.

The workshop provides critical insights on loss mitigation issues including common reasons for default, investor and insurer loss mitigation requirements and workout options. The five hands-on exercises, which include the design of a loss mitigation workout plan, ensure that professionals can immediately apply these loss mitigation skills to their job function.

"RMIC is known as an industry leader in both training and loss mitigation, so this opportunity to partner with CampusMBA to develop and deliver the loss mitigation workshop was an outstanding way to support our customers,” Henry said. “CampusMBA exceeded our expectations by how quickly and efficiently it worked with us to understand our needs and create hands on, nuts-and bolts-training that is particularly relevant in today's market. We're optimistic that providing servicers with up-to-the-minute information and real world techniques will benefit both them and homeowners who are facing delinquencies."

"RMIC expressed a critical business need to CampusMBA and we are thrilled to have had the opportunity to work with RMIC to produce this top caliber, hands-on loss mitigation training," said MBA Senior Vice President of Education John Golden. "CampusMBA's rapid response enterprise training solutions provide industry companies with targeted solutions that produce bottom line results."

For more information about CampusMBA's enterprise and corporate training program go to http://www.campusmba.org/CorporateTraining or call (202) 557-2826. For more information on obtaining training from RMIC, visit Mortgage Training under Products and Services at www.rmic.com.