This topic contains information on sending the borrower a Borrower Solicitation Package for a workout option.
If at any time during the delinquency the servicer has achieved QRPC and has not obtained a resolution to the delinquency, the servicer must send the borrower a Borrower Solicitation Package, if a Borrower Solicitation Package has not previously been sent.
A Borrower Solicitation Package consists of the following documents:
Borrower Solicitation Letter (Form 745), or equivalent; and
Mortgage Assistance Application (Form 710), or equivalent, provided that the equivalent form requests the same financial information and documentation, hardship information, and attestations from the borrower.
If the servicer has not achieved QRPC or obtained a resolution to the delinquency by the 45th day of delinquency, the servicer must send either a Borrower Solicitation Letter (Form 745), or equivalent, or a Borrower Solicitation Package.
The servicer is authorized to
mail, fax, or electronically transmit copies of Form 745, or equivalent, and other documents associated with the Borrower Solicitation Package to a borrower; or
permit a borrower to copy, print, or download a copy of such documents via a secure servicer-provided Internet website.
See Selling Guide A2-5.1-03, Electronic Records, Signatures, and Transactions for information on electronic record requirements.