Mortgage Retention Requirements See Renewed Emphasis During COVID-19 Pandemic

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The financial fallout from COVID-19 never seems to stop spreading. 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.