At Accunet Mortgage containing the spread of the COVID-19 virus is everyone’s top priority. We have made the health and safety of our clients a new facet of our mortgage lending process while we continue to quarantine and work through the pandemic. Our goal is to keep you safe and help you navigate the changes the virus has made on the mortgage world.
Below is a comprehensive list of the various measures Accunet is taking to keep our clients and staff safe and informed:
- Accunet is requiring face masks to be worn throughout our closing process, or during any face to face contact between loan officers and clients.
If you are medically unable to wear a face mask we will schedule your appointment for a ‘drive-up/curbside closing’ at the main entrance to our office where you remain in your car rather than coming into our office. NO children or other individuals are allowed in the office during the closing, and if others must accompany you, we can meet curbside.
- Accunet is only allowing buyers to attend closing, and will be arranging delivery for original sale side documents and checks.
- Accunet is no longer offering closings where a closing agent comes inside your home or your office. Our preferred method of closing is to have the client come to our Waukesha office, where we have set up designated, sanitized closing rooms. We have consulted with the Medical College of Wisconsin’s Epidemiology Department for precautions.
- Accunet staff will ask the following prescreening questions to all clients before they enter our building:
Have you or any household members:
- Had a positive COVID-19 test, had close contact with or cared for someone diagnosed with COVID-19 within the last 14 days?
- Experienced any flu-like symptoms in the last 14 days (fever, cough, sore throat, respiratory illness, or difficulty breathing)?
If you answer ‘yes’ to any questions, we’ll work with you to schedule closing according to the most recent Centers for Disease Control waiting period guidelines.
- For a closing inside our office, any documents will be signed in a private closing room with the door closed using new/sanitized pens (or you may bring your own). Tables will be freshly disinfected, and staff will use a paper signing mat, which will be discarded after your closing. Your closing agent will not be in the closing room with you, and will instead explain your closing documents by phone. They will witness your signature on the mortgage itself through the closing room window.
Due to the drastic changes in the market, Fannie Mae and Freddie Mac have altered some of their application requirements and documentation of income. Accunet can walk you through any questions if these requirements affect your current or future loan:
- If your income has been or will shortly be reduced from what is shown on your loan application for any reason, including layoff, furlough, or reduced hours, please call us immediately.
- If you need to put your mortgage into forbearance or otherwise defer your payments, our loan officers can create a plan that is best for your current situation.
- Fannie and Freddie plan to implement an adverse market refinance fee of 0.50% to offset projected losses from the tumultuous market. Our loan officers can explain how this will impact your mortgage in the near future.
- Fannie and Freddie have temporarily modified their standards for VOE and property appraisals, and many home appraisals are being done by exterior inspection only, or by public record available to the appraiser. Contact your lender and see if any steps in your mortgage process may be delayed or if there is a way to appease your seller more quickly.
- Many investors are requiring in-person inspections where a cash-out refinance is involved, and many jumbo loan lending deals are currently suspended.
- Lastly, mortgage rates are at historic lows, and many borrowers are choosing to refinance their homes. If you want to learn more about how Accunet can help you save, contact us today!