Posted To: Pipeline Press

It’s one thing to have confusion & bickering over whose turn it is to put the Scrabble tiles away face down after the game. It’s a whole different level when it comes to forbearance. As STRATMOR’s Seth Sprague puts it, “The forbearance airplane is being built as we’re flying it!” Servicers report that borrowers fall into four broad categories: No forbearance requested, forbearance requested but still making their payments, forbearance requested and being carried out, and borrowers who were delinquent pre-COVID but do not qualify for forbearance. But wait, there’s more! Investors for Agency loans further segregate those loans into (price/approval/product/purpose) buckets based on when the loan was sold to an investor, or to an Agency, and any events…(read more)

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Source: Mortgage News Daily