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Our RiskExec suite will add a new Fair Servicing module to give servicers the tools and statistical analyses needed to uncover potential risks posed by the handling of forbearance requests and terminations, as well as loan modifications.
Asurity is on the forefront developing compliance technology solutions to assist financial institutions.
However, the guidance is ambiguous in providing the options that a servicer can offer to the borrower at the termination of the granted forbearance. This ambiguity, and the potential for disparate treatment of borrowers in the stages of loan modification, delinquency, workout or foreclosure puts servicers at risk at a time when regulators will be extremely vigilant regarding the actions of servicers.