Covid-19 Update:
We are Here for You

A Message From Our CEO and Founder

Mortgage relief available to homeowners impacted by coronavirus

We are all seeing the resulting impacts of Coronavirus (COVID-19) around the world. While this is a rapidly-evolving situation, we are taking steps to help keep our employees, customers, partners, and communities healthy and safe while we still help those purchasing or refinancing a home. We are also gathering information as it becomes available about the mortgage industry during this unprecedented time.

For those in need of mortgage relief as a result of economic hardships from the COVID-19 outbreak, federal agencies offer options to help homeowners during this uncertain time.

Federal Housing Finance Agency Director Mark Calabria recently reminded the public via the FHFA website that “hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment.”

In the statement, Calabria advises borrowers that may be experiencing hardship “to reach out to your servicer,” as “The Enterprises and the Federal Home Loan Banks continue to provide support to the secondary mortgage market, and the UMBS market continues to operate at its normal level.”

In addition to the FHFA, the Federal Housing Administration offers “loss mitigation program options” that could help aid borrowers negatively impacted by the coronavirus.

In a statement put out earlier this month, FHA said, “As with any other event that negatively impacts a borrower’s ability to pay their monthly mortgage payment, FHA’s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers – including those that could be impacted by the Coronavirus – to help prevent them from going into foreclosure. These home retention options are located in FHA’s Single Family Housing Policy Handbook.”

For borrowers that may be quarantined and unable to work, forbearance could help homeowners navigate this temporary hardship. Make sure to ask your loan servicer what a hardship forbearance could mean for your mortgage term, and what additional payments might be required.

To find out which options are available to their specific circumstances, current borrowers should contact their current lender or servicer, not their originator. Your servicer information should be in their monthly statement via mail or email with a contact number and your account number.

Our Open Mortgage loan officers are available to help answer any questions to the best of their ability during the ever-changing pandemic updates, including how it could affect borrowers and their business.

For the latest health and safety updates on COVID 19 please visit at:

Beware of Scams

Criminals often take advantage of situations like these (COVID-19) to impersonate companies, charities, or government agencies.

  • Keep an eye out for suspicious-looking or sounding emails, text messages, or phone calls.
  • Your bank or credit union should not ask for your financial account details via email, text, or even a phone call. If you receive any of these, contact your bank or credit union with the contact information listed on their website.
  • Don’t click on links from sources you don’t know. They could download viruses onto your computer or device.
  • Do not turn over your social security, usernames, passwords, or financial information via text, email, or direct phone call.
  • Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.
  • If you have any questions or concerns you should contact your lender, Loan originator, bank, or credit card institution directly with the information on their website.

We are actively monitoring reports about the possible spread of COVID-19 in the United States, and understand that you may have concerns about its potential impact on borrowers.

Just remember we’re here for you or anyone who has been impacted by this pandemic. If you have questions we are there for you.

More Resources

Open Mortgage offers a trove of resources from easy, quick videos to detailed educational resources. We’ve got you covered!