Forbearance Policy – Replaced with Bulletin 20-31

Replaced with Bulletin 20-31

Homebridge is announcing a policy for loans in forbearance due to current market conditions. This policy is effective immediately and applies to both new submissions and loans currently in the pipeline.


The forbearance policy:

  • Applies to all Homebridge loan programs
  • Applies to both the subject lien(s) being paid off and to any other real estate owned mortgage lien(s)

Forbearance Policy

  • Borrower in Forbearance Plan and NOT Current and/or has a Missed Payment: All Mortgage Liens
    • The loan is ineligible
  • Borrower in Forbearance Plan: Subject Property Lien (Loan being Refinanced)
    • If the borrower is current and has not missed a payment, the loan is eligible
  • Borrower in Forbearance Plan: Other Real Estate Owned
    • Borrower must be current on existing loan and has never missed a payment
      • Written evidence, provided directly from the servicer, confirming the forbearance plan has been withdrawn, closed, or cancelled prior to the closing of the new subject loan is required

NOTE:   Forbearance can occur when the borrower directly requests forbearance and is in a forbearance plan OR the borrower inquires about forbearance with their loan servicer and the servicer flags the inquiry.  In either situation, the written documentation from the servicer detailed above, is required.

If you have any questions, please contact your Account Executive