This exhibit contains bankruptcy referral and completion timelines.
| Chapter 7 Bankruptcy |
| Delinquency Status |
When to Refer to an Attorney |
Timeline for Case Completion |
| Mortgage loan is delinquent, but less than 60 days delinquent when the bankruptcy is filed. |
May refer for proof of claim preparation if proof of claim is required to be filed. |
2 months and 2 weeks from the 60th day of delinquency to case completion. |
| Mortgage loan is 60 or more days delinquent or in foreclosure when the bankruptcy is filed. |
Refer no later than two weeks after the bankruptcy is filed. |
Two months and two weeks from the date of the bankruptcy filing to case completion. |
| Case completion for a Chapter 7 bankruptcy proceeding is defined as: automatic stay terminated, case dismissed or closed, or the borrower receives a discharge and the trustee abandons all interest in the secured property. |
| Chapter 11 Bankruptcy |
| Delinquency Status |
When to Refer to an Attorney |
Timeline for Case Completion |
| Mortgage loan is current or delinquent when bankruptcy is filed. |
Refer no later than two weeks from the date of the bankruptcy filing. |
No timeline implemented at this time. |
| Chapter 12 and 13 Bankruptcy |
| Delinquency Status |
When to Refer to an Attorney |
Timeline for Case Completion |
| Mortgage loan is delinquent but less than 60 days delinquent when the bankruptcy is filed. |
May refer for proof of claim preparation and plan review. |
Five months and two weeks from the 60th day of delinquency. |
| Mortgage loan is 60 or more days delinquent or in foreclosure when the bankruptcy is filed. |
Refer no later than two weeks after the bankruptcy is filed. |
Five months and two weeks from the date of the bankruptcy filing to case completion. |
| After confirmation of either a Chapter 12 or Chapter 13 plan, the mortgagor becomes 60 days delinquent making payments pursuant to the plan. |
Refer when the mortgage loan is 60 days delinquent, but no later than 2 weeks from the 60th day of delinquency. |
Five months and two weeks from the 60th day of delinquency. |
| Case completion for a Chapter 12 or 13 bankruptcy proceeding is defined as: automatic stay terminated, case dismissed or closed, the trustee abandons all interest in the secured property, or the Chapter 12 or 13 plan is confirmed. |
