Within five business days, the servicer must acknowledge its receipt of a BRP to the borrower in writing, and must indicate whether the BRP is complete or incomplete. The acknowledgment must include the items listed in the following table.
|✓||The acknowledgment must include...|
A statement indicating whether the BRP is complete or incomplete; and if complete, providing any other information required by applicable law.
The servicer’s evaluation process and response time frame.
An explanation of the foreclosure process, including that
In addition, for borrowers who submit a complete BRP 37 days or less prior to a scheduled foreclosure sale, the servicer must submit an explanation of the servicer’s plans for evaluating the borrower for a workout option and suspending the foreclosure sale, if appropriate.
For more information please see: D2-2-05, Receiving a Borrower Response Package.