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Consumer Reports letter to mortgage servicers on informing borrowers of the full range of post-forbearance repayment options

Consumer Reports letter to the top mortgage servicers calling on them to simplify the process for borrowers seeking forbearance and to ensure homeowners are provided the full range of repayment options when relief ends.  CR sent letters to Bank of America, Chase, First Republic Bank,  Lakeview, LoanCare, Mr. Cooper, New Residential (aka New Rez), Ocwen , Quicken (aka RocketMortgage), US Bank, and Wells Fargo.

Please Note: The document posted here is a generic version of the letter.  CR’s letters to the mortgage servicers listed above included excerpts of stories from their customers about how they were told they must make a balloon payment when their forbearance ends.