Search

Identifying Accounts in Forbearance

Updated: Mar 11, 2021

During the lending process, you may encounter accounts in forbearance or being deferred due to temporary financial hardship related to the COVID-19 pandemic. It is easy to determine which accounts are in one of these statuses by viewing the credit report. You will see the following indicators:

  1. ACCOUNT IN FORBEARANCE (Special Code “CP”)

  2. ACCOUNT AFFECTED BY NATURAL OR DECLARED DISASTER (Special Code “AW”)

In addition, you can utilize the following ARC services to identify if any accounts are newly in forbearance or deferred before closing:

  • Portfolio Review

  • Manual Verification | Supplement Request

  • Refreshed Credit Report


For more information about services you can use to identify newly effected accounts, please contact us at education@arcreports.com.

Recent Posts

See All

There are a lot of myths and misconceptions surrounding credit, and more specifically, the residential mortgage credit report (RMCR.) Before you purchase or refinance a home, there are many administra

"Ask the right questions of your borrower, get the right results" ARC’s Rapid Rescore is an effective way to improve your borrower’s midscore. On average, ARC achieves midscore increases of 25 points

The journey to buying a home isn’t always linear. For some buyers, the path to home ownership starts with curiosity and the question “What do I qualify for?” To answer this inevitable question, ARC of