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Mortgage Market Q&A with Portfolio Manager Ken Shinoda
Posted: Monday, May 18, 2020

What is mortgage forbearance and how do borrowers request forbearance?

Mortgage forbearance is an agreement between the borrower and the mortgage servicer to
temporarily suspend mortgage payments for a period of time. Missed payments are not forgiven
and the borrower must make those payments back in the future.

Forbearance is not a new relief mechanism for struggling mortgagors and has been part of the
mortgage market for quite some time. For example, the Federal Housing Administration (FHA) has
guidelines in place that provide forbearance relief to affected homeowners after certain natural
disasters.

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