With the recently passed CARES Act, certain homeowners negatively impacted by COVID-19 can request a forbearance for up to 180 days and request an extension for an additional 180 days*. Additionally, many servicers of non-federally backed mortgages are voluntarily providing similar relief.
Since March of 2020, millions of homeowners have requested a forbearance on their mortgage. Estimate is over 4 million as of May 10, 2020**
Identifying mortgage tradelines with a forbearance, deferment, or affected by natural disaster comment code.
As a way to help our lender partners, Factual Data® is offering Innovis® credit reports which quickly identify these comment codes. With the ability to refresh the credit report multiple times, lenders will have access to up-to-date information to help them efficiently run their operations.
Factual Data is providing these credit reports at NO CHARGE through the end of 2020.