Reply To: Adverse Action on a commerical loan


There are certain hardship modification/refinance programs offered by the federal government and some offered by specific banks that include the provisions mentioned in your question. I am not aware of any specific requirement that applies to all banks engaging in hardship modifications/refinances.

New RESPA rules related to loss mitigations include an appeal option, but those rules apply to RESPA-related mortgage loans secured by a borrower’s principal dwelling.

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