Drew Mortgage wants to assure you that we are OPEN FOR BUSINESS and ready to serve you and your clients, even as our nation deals with the challenges of the coronavirus. Drew Mortgage has adopted the following flexibilities to ensure that loans are available for new purchases and refinances.
Appraisal Flexibility
Leveraging alternate appraisal procedures so that we can obtain property valuation without the appraisers having to inspect the interior of the home for eligible mortgages.
Employment Verification Flexibility
Leveraging alternate verification methods such as, email to obtain verification of employment by email, a recent year-to-date paystub from the borrower, or a bank statement showing a recent payroll deposit. These temporary changes and flexibilities allow Drew Mortgage to continue to provide quality loans and great interest rates, to facilitate the buying, selling and refinancing of homes, and to help to put our borrowers and realtor partners at ease as we continue to work hard for you in this unprecedented time.
DREW MORTGAGE CARES – Mortgage Forbearance Resources
Drew Mortgage wants you to know that the Federal Housing Finance Authority has implemented rules to help if your ability to pay your mortgage is impacted, and your loan is owned by Fannie Mae or Freddie Mac.
You may be eligible to delay making your monthly mortgage payments for a temporary period, during which:
- You won’t incur late fees.
- You won’t have delinquencies reported to the credit bureaus.
- Foreclosure and other legal proceedings will be suspended. If you have trouble catching up at the end of this temporary relief period, additional assistance may be available.
You can work with your servicer to resume making a mortgage payment. Or if you need additional assistance, you can work with your servicer on other foreclosure prevention options to keep your home.
How to Get Mortgage Assistance due to COVID-19
Contact your mortgage servicer (the company where you send your monthly payments) as soon as possible to let them know about your current circumstances. The telephone number and mailing address of your mortgage servicer should be listed on your monthly mortgage statement.
If you have any other questions, please contact us here at Drew Mortgage.
