Mortgage Retention Requirements See Renewed Emphasis During COVID-19 Pandemic
JULY 16, 2020
This means even greater challenges for servicers, who are dealing with record volumes and geographically scattered employees no longer working in a central office. Forbearance programs enable borrowers to miss at least three months of payments, with some allowing borrowers to defer payments for up to a year by completing certain documentation. Detailed Documentation Required. Even in familiar working conditions, documents get misplaced or aren’t always kept secure.