Quickly Identify Loans in Forbearance, Deferment, or Impacted By a Natural Disaster

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.


Mortgages in frobearance

LOANS IN FORBEARANCE

Since March of 2020, millions of homeowners have requested a forbearance on their mortgage. Estimate is over 4 million as of May 10, 2020**

Challenge for Lenders

CHALLENGE FOR LENDERS

Identifying mortgage tradelines with a forbearance, deferment, or affected by natural disaster comment code.

Innovis Credit Reports

SOLUTION

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.

Innovis Credit Report Cost

COST

Factual Data is providing these credit reports at NO CHARGE through the end of 2020.


* CFPB Guide to coronavirus mortgage relief options
** Mortgage Bankers Association Forbearance and Call Volume Survey, May 18, 2020

For more information or to sign up, please fill out the form or contact us at:

877.284.8322
information@factualdata.com