How to Prepare a COVID-19 Loan
Increasingly, bank underwriting teams are considering the potential impact of COVID-19 on loan applicants when they evaluate credit. A well-prepared COVID-19 addendum can go a long way toward improving your underwriting outcome. To simplify the process, CMAC has created a COVID-19 addendum template that you can refer to when structuring your application.
Our guide includes 11 frequently asked questions from lenders, each with an example of an appropriate response.
As you fill out this template, remember that your responses should be specific and unique to your practice. Be sure that you have evidence to support your answers. When possible, include supporting documentation in your loan application. If you have any questions or need additional assistance, contact 407-264-7258 or firstname.lastname@example.org.