Mortgage Servicing and Loan Modifications: 12.2.3.4 Mortgage Forbearance
The Seller/Servicer Guide outlines certain activities that a servicer is required to take “to appropriately manage the Borrower’s Delinquency if the Servicer believes the disaster resulted in a hardship for the Borrower and the disaster is an Eligible Disaster.”155 One of these activities is the consideration of a mortgage forbearance plan that includes either reduced or no monthly payments for a specific time period.