Homebridge is updating our guidance for FHA NCQ Streamline transactions when the borrower is currently in forbearance and has not missed payments.
Borrowers who are currently in a forbearance plan at the time of case number assignment are eligible subject to:
- The borrower continued to make regularly scheduled payments during forbearance (i.e. the burrower is current with no missed/skipped payments), and
- Documentation is provided the forbearance plan has been terminated/canceled, and
- Evidence of the payment amount and date payments made during the during the forbearance plan if payment made within the 12 months prior to case number assignment
NOTE: If the borrower is currently in a forbearance plan and there are missed payments/loan is not current the loan is ineligible (no change)
The FHA Streamline guidelines have been updated and posted on the website at www.HomebridgeWholesale.com
If you have any questions, please contact your Account Executive
