Posted By: Comply 101
Forbearance and Acknowledgement - 04/07/20 09:13 PM
I am seeing guidance out there that we still have to send the acknowledgment out the person requesting help, but not within 5 days. We have
up to the time of forbearance to send them an acknowledgement that we received a request for them. Really?
First of all, this is not an incomplete application, it is not a complete application, it is not an application for loss mitigation at all. It is an automatic three month deferral if they attest they have a Covid 19 hardship-no questions asked other than that. Yet we still have to send
them an acknowledgement 90 days later after they have already signed a forbearance agreement. Does this make sense to anyone?
up to the time of forbearance to send them an acknowledgement that we received a request for them. Really?
First of all, this is not an incomplete application, it is not a complete application, it is not an application for loss mitigation at all. It is an automatic three month deferral if they attest they have a Covid 19 hardship-no questions asked other than that. Yet we still have to send
them an acknowledgement 90 days later after they have already signed a forbearance agreement. Does this make sense to anyone?