The lending community has been gearing up for an anticipated influx of loan modification requests for many of the borrowers coming out of a forbearance term. The magnitude of loan modification volumes is uncertain as many borrowers may elect for another forbearance period after the initial 189 days. However, there is a consensus that the volume of loan modifications will increase significantly.
This white paper delves into the existing loan modification process to better understand the impact of this increase in volumes.
Date: September 2020