COVID-19 FAQ's

An Update from Trinity Oaks Mortgage Regarding COVID-19

Updated on March 17, 2020


Trinity Oaks Mortgage remains committed to the health and well-being of our staff, customers, trade partners, and communities. We believe that through honest communication and transparency we can work together through the novel coronavirus outbreak. 

While this is an unprecedented time in history, interest rates are at all-time lows. It is a great time to purchase or refinance a home! We are committed to serving our customers so currently, our branches and corporate offices will remain open and are operating on their normal schedule. Additionally, you can connect with any of our Loan Officers by selecting “Find a Loan Officer” at the top of our website any time.

We are following guidance from the CDC and local health authorities for enhanced procedures that include:

1. Enhanced Cleaning 
Our branch and corporate offices will be cleaned and sanitized on a regular basis. Antibacterial soap is provided at each office for hand washing as well as hand sanitizer.

2. Social Distancing 
We love to show our customers how much we appreciate them with handshakes and hugs, however, during this time we will limit ourselves to smiles.

3. Stay Home When Not Feeling Well 
We have asked our team to use extra caution when evaluating their own personal health and will
have staff go home if they are not feeling well.

4. Large Events 
We’ve postponed large gatherings and meetings until further notice. All one-on-one meetings with our customers will continue.

5. Virtual Options 
We provide one-on-one meetings, virtual meetings and electronic signature alternatives for our
customers and are here to serve their needs as a first priority.

What does the Fed rate cut mean for my mortgage rate?

The Fed emergency short-term rate cut could impact mortgage rates over time based on the reaction from the market. The 0% cut is important in the banking industry, but it does not mean that rate is available on any loan product.

Will COVID 19 precautions delay or impact my closing date?

We will continue to prioritize our current borrower purchases and refinances with the goal of meeting all closing dates. We are in close contact with our 3rd party vendors to do everything possible to ensure all loans close on time.

Can I close on my loan without going into a physical office?

Yes, for most loan types we have tools and processes in place to handle all loan closing steps electronically. Please contact your Loan Officer for more details.

I am experiencing financial problems during this crisis. What can I do?

In an effort to help consumers who may be financially affected by the coronavirus outbreak, banks and credit card issuers across the country are rolling out assistance programs. Most are willing to work with you to defer payments on auto payments, student loans, credit card balances and more. These programs can both help you remain in good standing with your creditors and safeguard your credit score from long-lasting effects.

You must be proactive and request payment deferrals directly from your creditors though. The programs will not automatically be applied to your account. Be aware that right now their call centers are experiencing excessive call volumes every day, so expect to spend some time on the phone with them, but time is of the essence in order to protect your credit.

If you are – or anticipating that you will experience financial problems during this crisis, call your creditors TODAY.

Didn’t find the answer you were looking for? Please submit your question below and we will get back to you within one business day.

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