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.
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
Identifying mortgage tradelines with a forbearance, deferment, or affected by natural disaster comment code.
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.
Cost
Factual Data is providing these credit reports at NO CHARGE through the end of 2020.
For more information or to sign up, fill out the form below or contact us at: