There’s Only So Much You Can Automate Forbearance Requests: GSEs

National Mortgage News, June 3, 2020–Bonnie Sinnock (subscription)
“What we’re hearing from our servicers is roughly 50%-60% of all new forbearance plans were launched through self-serve digital portals,” said Kevin Palmer, senior vice president of portfolio management at Freddie Mac, at a recent virtual event organized by the Mortgage Bankers Association. “We’re even hearing from some servicers that it’s as high as 95%.”