Communications Between Borrowers and Servicers: Evidence from the COVID-19 Mortgage Forbearance Program
18 Pages Posted: 19 Aug 2020
Date Written: August 18, 2020
The servicer comments are proprietary and hardly accessible; however, they can offer the single best source for real-time information of the mortgages. We utilize these comments to shed light on borrower responses to the mortgage forbearance program contained in the Coronavirus Aid, Relief, and Economic Security Act. Our analysis reveals that borrowers did not actively seek out mortgage forbearance in response to this policy.
Keywords: Forbearance, Machine learning, Natural Language Processing
JEL Classification: E60, E65, G18 ,G21, H3
Suggested Citation: Suggested Citation