NMS Services Loans During Government Shutdown
Frankenmuth, MI – The government shutdown that lasted from Dec. 22, 2018 – Jan. 25, 2019 may be over, however, it’s important to remember the government employees affected and how the mortgage industry prepared for and provided service to them during a difficult time.
FNMA issued lender letters in January, which provided additional guidance on selling and servicing policies for borrowers who have been impacted by the federal government shutdown. In turn, Neighborhood Mortgage Solutions activated a response plan to continue service to government employee borrowers affected by the shutdown. During this time there were no late fees and Credit Bureau reporting was suspended for the duration of the shutdown. Our dedicated team contacted borrowers to ensure their loan progressed.
NMS is proud to provide solutions for our borrowers in their time of need and lives by the Credit Union motto of “People Helping People.”
Neighborhood Mortgage Solutions is a Credit Union Service Organization (CUSO) providing mortgage services to fellow credit unions. We are credit union owned and founded by three credit union partners: Frankenmuth Credit Union, Alpena Alcona Area Credit Union and Team One Credit Union.
Our mission is to enhance the mortgage product offerings for all credit unions, be it owners or affiliates, by way of the diverse mortgage products offered; and by keeping each credit union’s mortgage origination and servicing income in the communities they serve.