Seller/Servicer Memorandum 20-02
Date: March 18, 2020
Sheena Villafuerte, Servicing Manager, 907-330-8222
Servicers are encouraged to evaluate borrowers experiencing a hardship due to COVID-19 and extend temporary relief by following AHFC and Insurers’ guidelines and guidance.
For insured loans, follow the appropriate insurer guidelines, to include foreclosure and eviction suspensions, if applicable.
For AHFC Conventional loans with no MI, the Servicer may grant a special forbearance and should include temporary suspension of credit bureau reporting and late charges. Loans in active foreclosure or eviction status, that are occupied, should be suspended for 60 days to allow homeowners to stay in their home during this national emergency.
Vacant properties - proceed with foreclosure process.