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. | ||||