Lenders shouldn't waiver on monitoring early payment defaults

July 29, 2020

National Mortgage News | July 29, 2020| by Phil McCall

The Federal Housing Administration's temporary waiver of its required monthly early payment default quality control reviews was a welcome concession to the unique circumstances lenders and borrowers are facing during the COVID-19 pandemic. However, other factors indicate that EPDs still pose risk for lenders in the months to come and should, therefore, be closely monitored.

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