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NJP Foreclosure Prevention Unit - Mediator Training

1. What would you like to see mediators do if parties are not in agreement as to inputs?

2. What happens if Bank says “fail” and Borrower says “pass”?

3. What should mediators be asking/doing when they hear in mediation that there is not a PSA that prohibits a loan mod, but that “investor guidelines” won’t allow for it and its proprietary information?

4. Is it "bad faith” if the PSA information isn’t shared?

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5. What is your understanding of the mediation process? Have you had any negative experiences that make you dislike or distrust mediation? What were they?

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6. What can mediators do to help you and your clients have better mediations?

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7. What do you like about the mediation process?

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8. What are mediators not understanding about you, your clients, the FFA in general? What do they need to know?

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9. What does a lack of good faith finding mean to you and your clients? How does that affect the intention of the FFA: “to provide alternatives, remedies, and assistance” to homeowners.

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10. What are mediators not understanding about the NPV calculation? How would you like them to mediate when the two parties have substantive input differences?

11. I have heard concern that banks/servicers/investors often benefit financially from foreclosure:

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12. In three sentences or less, please explain this complex process (investors/banks/servicers profiting from foreclosures) so that mediators have a better understanding. What do mediators need to know to do their best work?

13. Are there cases where it is not in the best financial interest of the bank to agree to a modification?

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14. How do HAMP and other Federal programs affect this process?

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15. What are some other foreclosure issues that may be important during mediation?

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16. Many advocates (both sides) are new to this work, with limited experience and knowledge. How can mediators help them do their best work?

 

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