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#2235651 - 04/24/20 06:49 PM Escrow Analysis on Forbearance Loans
It's not easy Offline
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Joined: May 2009
Posts: 127
Is anyone delaying their escrow analysis on loans in a forbearance? Thanks!

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RESPA
#2235658 - 04/24/20 07:28 PM Re: Escrow Analysis on Forbearance Loans It's not easy
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,368
Galveston, TX
You can:

2) No annual statements in the case of default, foreclosure, or bankruptcy. This paragraph (i)(2) contains an exemption from the provisions of § 1024.17(i)(1). If at the time the servicer conducts the escrow account analysis the borrower is more than 30 days overdue, then the servicer is exempt from the requirements of submitting an annual escrow account statement to the borrower under § 1024.17(i). This exemption also applies in situations where the servicer has brought an action for foreclosure under the underlying federally related mortgage loan, or where the borrower is in bankruptcy proceedings. If the servicer does not issue an annual statement pursuant to this exemption and the loan subsequently is reinstated or otherwise becomes current, the servicer shall provide a history of the account since the last annual statement (which may be longer than 1 year) within 90 days of the date the account became current.
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