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Second Forbearance Agreement

This advice applies to both a NACH view of the CARES Act and other mortgage facilities you may receive. The FTA does not require a lump sum refund at the end of the leniency. Owners who have a special covid-19 leniency will be checked by their service no later than the end of the additional period to determine whether the COVID-19 option can be considered a stand-alone partial FHA right. AV loan sponsors cannot require borrowers to make a lump sum payment immediately after a borrower leaves a CARES law. Visit the USDA Rural Development website for more information on leniency for USDA Guaranteed Loans. Native American Direct Loans (NADL) is managed by BSI Financial Services. NADL borrowers can apply for a leniency plan by contacting the standard BSI processing team at 800-327-7861 or customercare@bsifinancial.com. VA has a number of loss reduction options, such as repayment plans and credit changes, to help borrowers repay post-stilt payments under a CARES act. In addition, VA continues to explore other options to further assist borrowers affected by a new national coronavirus emergency (COVID-19). USDA Rural Housing Service does not request a lump sum payment at the end of the leniency. Owners with mortgages that belong to or are guaranteed to Fannie Mae or Freddie Mac may, with your indulgence, be entitled to different repayment options. Fannie Mae and Freddie Mac do not ask for a lump sum payment at the end of the indulgence A mortgage leniency agreement is an agreement between a mortgage lender and a lender payment lender.

In this agreement, a lender agrees not to exercise its legal right to a mortgage and the borrower accepts a mortgage plan that updates the borrower over a period of time. The borrower must resume the full payment at the end of the period, plus pay an additional amount to receive the missing payments, including principal, interest, taxes and insurance. The terms of the agreement vary depending on the lender and the situation. During the period covered by the second leniency agreement, the Company intends to explore other potential transactions in order to further reduce its obligations arising from its existing pension operations, financing from generally more sustainable sources than existing financing alternatives, and to raise funds to strengthen its liquidity. In addition, the Company will continue to engage with its counterparties in order to obtain more leniency if necessary.

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