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and within six months. Once a commitment is gained, AmeriNat will forward a confirmation letter to <br />document both the call and the commitment. The revised payment plan of no greater than six months <br />duration is then implemented. Default under this plan may cause AmeriNat to recommend <br />foreclosure. <br /> <br /> <br />Forbearance Plans: <br /> <br />Formal forbearance plans are typically used for defaults of 90+ days. A forbearance plan of less than six <br />months duration is executed by the borrower and immediately implemented by AmeriNat, with notice <br />immediately provided to the Client. Formal modifications to promissory note terms and forbearance plans <br />of greater than six months duration are subject to the Client pre-approved parameters. Forbearance <br />recommendations outside of the pre-approved parameters require individual Client approval if they are <br />to move forward. Approval timeframes are subject to regulatory guidance, and therefore if the Client does <br />not respond to requests for approval within the agreed-upon timeframes, AmeriNat will deny the <br />application or request. <br /> <br />Once approved, AmeriNat will implement the new payment schedule. Should a borrower default from <br />the new payment schedule without cause, AmeriNat will recommend foreclosure. <br /> <br />Forbearance Evaluation Process: A hardship is defined as a situation or set of events or circumstances <br />beyond the normal control of the borrower that prohibits the borrower from adhering to a planned <br />repayment schedule. If a borrower states, either verbally or in writing, that a hardship situation exists, <br />AmeriNat will document the circumstances and provide the following: <br /> <br />i. Letter from borrower requesting the Client’s consideration of hardship <br />ii. Nature of the hardship <br />iii. Expected duration of the hardship <br />iv. Evidence to substantiate hardship <br />v. Forbearance Plan Proposal <br /> <br />Forbearance Plans are executed by AmeriNat in accordance with the pre-approved guidelines established <br />with the Client. Forbearance plan recommendations outside of the approved parameters require <br />individual approval by the Client. Approval timeframes are subject to regulatory guidance, and therefore <br />if the Client does not respond to requests for approval within the agreed-upon timeframes, AmeriNat will <br />deny the application or request. Once the agreement is executed with the borrower, AmeriNat will <br />resume loan servicing under the new payment plan. The file will be tickled for follow-up at the expiration <br />of the temporary plan. <br /> <br /> <br />Loan Modification Analysis: <br />1. Preliminary Screening: When contact with the borrower indicates a short-term forbearance <br />agreement will not be enough to bring the account current, and initial assessment of the Borrower’s <br />circumstances indicate the Borrower may possibly be eligible for an available loss mitigation option, <br />the borrower will be encouraged to submit a loss mitigation application. <br /> <br />Docusign Envelope ID: 2B617463-847A-4D49-A35E-F34CFC91F6B8