Servicing Guide

Published March 10, 2021

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F-2-12: Payment Deferral Delinquency Eligibility Examples (12/09/2020)

This exhibit contains payment deferral delinquency eligibility examples.


Payment Deferral Delinquency Eligibility

The following examples illustrate how to determine delinquency eligibility for a payment deferral (see D2-3.2-05, Payment Deferral for additional information):

Example #1: Borrower Has Made Contractual Payment at Time of QRPC/Evaluation

January February March April May
Date of QRPC/Evaluation -- -- -- -- May 13
Date Payment Received January 11 February 11 No Payment April 11 May 11
Days Delinquent at Month End 0 0 30 30 30
Last Paid Installment January February February March April
Borrower Eligible? Yes, because the delinquency status has remained unchanged for at least 3 consecutive months, including the month of evaluation, and the borrower has made the full monthly contractual payment prior to the date of QRPC/evaluation.

Example #2: Borrower Has Not Made Contractual Payment at Time of QRPC/Evaluation

January February March April May
Date of QRPC/Evaluation -- -- -- -- May 13
Date Payment Received January 11 No Payment March 11 April 11 No Payment
Days Delinquent at Month End 0 30 30 30 TBD
Last Paid Installment January January February March TBD
Borrower Eligible? Although the delinquency status has remained unchanged for at least 3 consecutive months, the borrower has not made the full monthly contractual payment due in the evaluation month as of the date of QRPC/evaluation. The borrower may be eligible for a payment deferral if he or she makes the full monthly contractual payment by the end of the evaluation month.

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