An important message for our Loan Servicing clients

The letter below was recently sent to our client contacts via email. We are also sharing it here to ensure it's widely available.

Dear valued clients,
With all that is happening during these challenging and rapidly changing times, we wanted to check in and provide some information that may help you, as well as remind you that we are here to assist you.

At the forefront, we are concerned about the well-being of our valued customers.  We want to express our hope and optimism that, even though we are going through times of great uncertainty, we will make it through this crisis brought on by the pandemic.  We also know that the best outcomes will be achieved by working together as a team.

Our Current Status and How to Reach Us

NorthMarq’s Servicing operations are fully up and running, with most of our staff working remotely.  At this point we continue to have minimal staff in the office performing essential functions, but even these functions are being challenged as all of our Servicing locations are in areas where Shelter In Place has been mandated.

One of the most important things we can do during these times is communicate effectively. With a disbursed workforce, the best way to do that is electronically whenever possible.  Whatever the issue, you can always find the contacts for your loan on NorthMarq.com using this link (which goes to northmarq.com > Servicing > Loan Contacts Search). If you cannot identify your loan contact, please request the information by emailing Servicing@northmarq.com.

At this time we continue to have access to our office building, which allows us to receive mail and overnight deliveries, including loan payments in the form of a check. However, with the speed at which things are changing, we would like to be prepared for any contingency. As such, we highly encourage the following:

  • If you currently make your mortgage payment via check, we highly recommend you switch to ACH or wire payments in order to ensure that your payment is received timely and credited to your account. To sign up for ACH, please complete this ACH Payment Form and submit it to ACH@northmarq.com.  Any questions can also be directed to this email address. You may request wiring instructions through Servicing@northmarq.com.
  • Whenever you use an overnight delivery system, we recommend sending an email to servicing@northmarq.com with notification of the package and the tracking numbers. The carriers will not release packages at their facilities without a tracking number. This includes payments sent via overnight delivery.
  • Please send your annual and periodic financial statements, rent rolls, and other financial documentation electronically to financials@northmarq.com
  • Please send your annual evidence of insurance and premium invoices electronically to InsuranceTeam@northmarq.com.  We will also request electronic submission of these documents from your insurance agent upon policy renewal. 

Mortgage Relief Requests

Many of our customers have recently reached out to us regarding mortgage relief or lease issues. This continues to be an evolving situation with our lenders, and all lenders will handle things differently. We can provide greater detail on forbearance related to Freddie Mac and Fannie Mae loans upon request.  There are many consistent themes we have heard, and we would like to share those here.

  • First and foremost, lenders are expecting the April mortgage payments to be made timely.
  • Second, all requests for relief or modifications must be made in writing based on the economic situation of the mortgaged property only. Documentation may vary by lender, but the more detailed information provided, the better it will help the lender understand the circumstances you are dealing with.  
  • Lastly, the requests should be made through your Servicing contact at NorthMarq. The NorthMarq Loan Portfolio Analyst will be your main point of contact throughout this process and is here to assist you.

Thank you for taking the time to read this message—we know you have many pressing priorities. It is our hope that this information has clarified current processes and helps direct you to the right contacts. Our goal is to continue to serve you to the best of our abilities. We wish you the best during these challenging times.

Sincerely,

The NorthMarq Loan Servicing Team

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