ATTN: Attorneys Handling New Loss Mitigation Cases

Thursday, May 5, 2011

Attorneys Handling New Loss Mitigation Cases Should Be Using the DMM Portal Application for All Participating Servicers As was announced on April 11, 2011, the Court has embraced the use of the DMM Portal application to automate the document exchange process in connection with our loss mitigation program. Bankruptcy cases with loss mitigation orders entered after April 11 should be opened in the Portal system and actively be managed between debtors and participating servicers in that program. There may have been some confusion following the original April training as to whether parties could begin using the portal -- and the answer is Yes! Attached to this link is the DMM Portal Training manual that provides information on how to obtain a login, how to initiate a loss mitigation case in the portal, and how to respond to a loss mitigation invitation that a servicer may send to a debtor's counsel. In the near future, use of the portal will be a requirement for participating in the LM program for those participating lenders, therefore we strongly urge all practitioners to start using the system now. Additional training is being developed by Default Mitigation Management on the portal system and you will be notified once it is ready.