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#2233546 - 03/24/20 12:49 PM Loan Payment Deferral
Beachbum Offline
Junior Member
Joined: Jul 2018
Posts: 39
Are we allowed to offer payment deferrals extending the maturity if they have escrow?

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Lending Compliance
#2233547 - 03/24/20 12:59 PM Re: Loan Payment Deferral [Re: Beachbum]
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 74,768
Galveston, TX
Of course. They can choose to pay them or they will have a higher escrow payment when it re-analyzes.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2233557 - 03/24/20 03:47 PM Re: Loan Payment Deferral [Re: rlcarey]
Questions Offline
Member
Joined: Jun 2009
Posts: 83
If we modify a loan to allow interest only payments for three months without collecting escrow, are we required to send a new escrow analysis letter at the initiation of the payment relief, or once the deferment is complete?

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#2233564 - 03/24/20 04:16 PM Re: Loan Payment Deferral [Re: Beachbum]
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 74,768
Galveston, TX
At the next analysis year unless you choose to do a short year statement.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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