Any modification (change in the terms) of the note due to or following expiration of the forbearance term requires documentation evidencing a borrower signature.
Signatures,* electronic or wet, are required for loan modification agreements that provide for any of the following:
• Adding the deferred payments to the remaining loan payments
• Adding the deferred payments to remaining note payments
• Extending the maturity of the note
• Adding all or a portion of the deferred payments to the principal of the note
• Lowering the interest rate
*Please see the COVID-19 Updates and Resources for guidance when a borrower cannot provide a signature to the modification agreement.
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