March 3, 2021: Reminder - COVID-19 Assistance Information and Payment Handling

The most recent available options for customers encountering financial hardships due to COVID-19 are viewable on the COVID-19 Disaster – Loss Mitigation Waterfall document in Knowledgeowl.  

Click Here to view this document (best viewed using the Chrome browser).

Established procedures for handling customers who advise they are financially impacted due to COVID-19 have not changed.  

  • Retained Servicing:  Click Here to review customer talking points and the procedure to run the Director Script  - Select: Disaster- Input: loan number - Select Disaster Type: Pandemic and follow the prompts to complete the call

While in an active COVID-19 loss mitigation/forbearance plan, the respective default specialists will discuss payment amounts owed and all options relating to payments (the loan will remain active in the respective Loss Mitigation workstation).  
Please do not communicate that there is a requirement for these customers to continue to make their monthly escrow payments.   While in forbearance, the servicer will continue to advance funds to cover escrow payments. 

  • Any escrow advances may become part of the post-forbearance options that are offered, e.g. deferment, partial claim, modification, etc. 

Should calls be connected to Customer Experience requesting to process a payment by phone for loans on an active repay/forbearance plan, or to pay funds toward escrow for loans on an active repay/forbearance plan, please contact your supervisor or manager for assistance before processing.  In most instances the payment by phone should be processed with the respective default specialist.