Coronavirus/COVID-19 Response & Information

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Gregory Funding is considered an essential business based on the crucial financial sector role we play in processing your mortgage loan payments, paying your property tax payments and insurance premiums when we hold your escrowed funds, being a bridge between you and the loan investor, and helping you with loan restructuring when necessary. 


We are allowed to continue to operate under state of emergency and stay at home orders recently issued in the U.S.  We have been and will continue to operate from our servicing operations location in Beaverton, Oregon.  We are working hard to make adjustments to our operations as needed.  In addition to continuing to meet your needs, the safety and well-being of our staff is our other critical priority.


Like you, we are watching strong measures being taken by the Federal Reserve to support businesses and consumers facing hardships directly related to the coronavirus.


Here are answers to the common questions we are currently hearing from you.

1. I am confused by the many state stay-at-home orders and don't know what is going on for all businesses; is Gregory Funding currently open for business?

Gregory Funding is a financial services company, operating in the financial credit and payment processing sector, so our employees are classified as essential workforce.  We are here to accept your mortgage loan payments, assist you with any payment problems you experience, maintain in good order your loan account records and an escrow account if you have one, and process your principal and interest payments.


Our COVID-19 Business Continuity Plan is currently in effect.  We plan to be open for operations throughout the period of emergency conditions associated with the coronavirus pandemic.  Our employees are working in all functions, with a core group in our office for necessary physical activities and many employees working remote from home.  Our systems infrastructure has long supported employees’ online remote access, so the transition to more people working from home has been seamless.

2. I am hearing there may be a "bank holiday"; can I stop paying my mortgage loan?

We know many people may have interruptions in their pay.  We know unemployment may increase and many people face being laid off.  If you lose employment, we encourage you to seek unemployment assistance and other benefits that may become available as governments respond to the needs.


Fortunately, many organizations are still in a position to allow people to continue to be employed, and we recommend that you continue to pay your mortgage if you have an ability to do so.  Many programs are intended for those who are currently facing an income disruption as a direct result of the coronavirus.  Homeowners capable of making their mortgage payment should continue to do so in order not to place undue demands on very tight human and financial resources needed to manage our loan assistance programs.


Please keep in mind that, depending on the terms of your mortgage, we use funds from your mortgage payments to make your property tax payments, to pay your homeowners’ insurance premium, and to deliver your principal and interest payments to the loan investors.  When you continue to make your regular mortgage payments, it allows us to serve you better. 

3. I hear there are special programs available now that affect my requirement to make mortgage loan payments?

Some of the government sponsored enterprises (including Fannie Mae and Freddie Mac) have implemented programs to help borrowers during this time.  These programs do not apply to your mortgage; the terms of your mortgage loan Promissory Note and Security Instrument (the mortgage or deed of trust) have not changed.  Some of the states have issued guidance to mortgage servicers. We are closely monitoring federal, state and local guidance and we will follow all applicable laws.  Our loan assistance programs remain available to you as always.  Many of you may now have a new need because you are facing a pay reduction or job loss situation that represents a shocking change in your financial situation.  We can help. 


We do understand that many people will experience temporary loss of income and the sudden impact can be harsh on families.  We are looking at special terms that we may offer to assist with these unusual needs as we structure a solution for you.


Please contact our Customer Service team at 866-712-5698 to discuss your personal situation. You can also download our Borrower Assistance Application from this website, complete it, gather the required personal financial information, and mail the application to our office.

4. Are you charging late fees during the emergency period?

At this time late fees are being assessed normally. Gregory Funding already has certain structured late fee waiver programs associated with our various loss mitigation programs. In general, loans already delinquent before March 16, 2020 will be eligible for our usual waiver programs as applicable. We are looking at additional late fee waiver programs for now-current loans that become delinquent because of a borrower's documented job and payroll problems that are caused by the pandemic emergency.

5. Do you have special assistance and foreclosure prevention programs now, because of the pandemic and the economic problems it is causing?

Our usual range of foreclosure prevention and loss mitigation programs remains available. One important feature of our assistance programs is that we can always work with you when you first experience financial stress, even if your loan remains current when you get in touch with us.


Please contact our Customer Service team at 866-712-5698 to discuss your personal situation. You can also download our Borrower Assistance Application from this website, complete it, gather the required personal financial information, and mail the application to our office.

6. My loan is in foreclosure; have your stopped all foreclosure processes because of the pandemic conditions?


We work with local counsel in each state, so we are well informed of emergency measures being taken by state and local governments and courts to restrict foreclosure or eviction activity. We are following the restrictions put in place in each jurisdiction.


As always, we continue to make loan assistance programs available to borrowers whose loans are in foreclosure. If you already applied and were not successful, it is possible you may again be eligible due to a material change in your financial circumstances.

You can download our Borrower Assistance Application from this website, complete it, gather the required personal financial information, and mail the application to our office.


7. I recently received a notice of intent to foreclose letter; have you stopped all foreclosure processes because of the pandemic conditions?

Some jurisdictions have temporarily suspended foreclosure sale activity, while some have also suspended beginning any new foreclosures. Our local counsel in each state keep us informed of limitations in the processes that we must follow in any particular jurisdiction. We follow their advice and abide by the applicable laws.

8. Because the Federal Reserve reduced the federal funds rate to almost zero, can I get a new mortgage loan with you at a lower, or even zero, interest rate?

We are a mortgage loan servicer only, not a lender, so we cannot refinance your mortgage loan.  If you are interested in refinancing, there are many other sources of loans.  These range from the national name-brand banks to small local and regional mortgage bankers.  You can find those lender resources online.

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