USDA Post Forbearance Seasoning
Newrez LLC "Newrez" Approved Correspondent Clients: Newrez has revised the policy for the number of months the borrower has resumed making payment after exiting a mortgage forbearance. This change is effective immediately.
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Topic |
Current Guideline |
New Guideline |
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Forbearance |
A borrower who has deferred mortgage payments as result of recent forbearance plan must have resumed making payments for a period of at least three (3) months and not have any defaults in the previous 12-month period, excluding the time the loan was in forbearance. |
Non-Delegated Clients
Delegated Clients
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