Borrowers must make payments for three (3) consecutive months before the loan is categorized from “non-performing” to “performing.” Loans are automatically updated on a monthly basis according to the payment history on the loan. Loans that miss two payments for (2) consecutive months get switched to “non-performing” and loans that make payments for three (3) consecutive months get switched to “performing.” If you loan was on another program, you must send in a request to have your loan switched to the “performing” loan program if the borrower is performing on the loan.
When will the loan status change to performing?
April 30, 2018 by