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We’re providing these answers to guide members and borrowers who are affected by the COVID-19 pandemic. We plan to update it with additional questions and answers as they surface. We will also update the existing answers as necessary in our effort to support you, so be sure to check back here.

While most lenders across the country are following similar practices, the contents of this page are specifically intended for those whose current mortgage loan was originated and is serviced by Member Advantage Mortgage.

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The Member Advantage Mortgage Response Plan

for Borrowers Impacted by COVID-19

Last Updated: April 17, 2020

What is Member Advantage Mortgage (MAM) currently offering for borrowers impacted by COVID-19?

MAM has taken several steps to assist those impacted by COVID-19. For specific questions on your situation, please contact the Loss Mitigation Department of Midwest Loan Services (our loan servicing partner) at 1-800-240-4214 or by email at 

During this time, for members who set up a deferment or hardship plan, we are:

  • Offering options to defer payments for a period of at least 90 days if you are impacted by COVID-19

  • Waiving late-payment fees for the entire duration of your forbearance plan

  • Abstaining from reporting late payments to credit-rating agencies for the entire duration of your forbearance plan

  • Postponing foreclosures for a minimum of 60 days

The specific assistance options available to you will depend on whether its with Fannie Mae, Freddie Mac, or your credit union.  The links below may be useful if your loan is with Fannie Mae or Freddie Mac. If you don’t know, there are lookup links below to help you figure it out.

·        FHFA for General Announcements

·        Fannie Mae Loan Lookup Tool

·        Freddie Mac Loan Lookup Tool


Does the above apply to all loans and loan types?

Many FHA, VA, or Rural Development loans MAM originates are sold to another investors to obtain the most favorable rates and pricing for the borrower.  If you obtained one of these types of loans from MAM in the past and need to speak with someone about assistance related to COVID-19 you should look at your most recent monthly statement for contact information so you can speak directly with the servicer who currently holds that loan.


MAM Covid-19 - Homeowner

COVID-19 - Homeowner

COVID-19 - Homeowner

Is MAM still operating as usual?

Yes, like our credit union partners, MAM is considered an essential business. Our team is mostly working remotely but is here to serve your needs and offer any assistance.

Who is Midwest Loan Services?

Midwest Loan Services performs loan servicing services on behalf of Member Advantage Mortgage and the credit unions it partners with and handles the day-to-day administration tasks associated with your loan, including receiving payments, managing escrow accounts, and sending monthly statements.

How does the COVID-19 Stimulus Bill affect mortgages?

The federal government’s stimulus package offers different assistance options. There may be assistance programs in your state as well. However, our advice when it comes to getting the most accurate and personalized information about your mortgage and situation is to reach out to Midwest Loan Services at 1-800-240-4214. 

Will a deferment plan on my mortgage affect my credit score?

All credit reporting to the repositories of delinquencies related to COVID-19 will be suspended as long as the borrower is under an active deferment plan.

How will I know when my deferment period is over?

No later than 30 days prior to the expiration of your deferment plan, Midwest Loan Services will begin contacting you. They will continue outreach attempts, and analyze each case carefully in accordance with the requirements for which mortgage loan modification is most appropriate for your situation.

COVID-19 - Homeowner

Information for Refinance Applicants:

A sudden and unexpected drop in mortgage rates has led to a surge in refinance applications across the entire country. MAM experienced a 300% jump in daily loan applications in the space of 24 hours when rates first dropped, and the ongoing application pace has remained more than double what it was before the crisis.  

While it’s exciting to see any uptick in business, when the surge comes as quickly and as significantly as this one has, it comes with many substantial challenges. Rest assured, we are doing everything we can to meet those challenges. 

Finally, because the full extent and duration of the ongoing health pandemic is not known at this time, the process may take significantly longer if appraisers and/or title companies are unable to perform their work normally.  

COVID-19 Homeowner


How soon will someone get in contact with me after my first inquiry (call, contact form, mortgage calculator)?

Refinance inquiries remain higher than normal and are not necessarily consistent from one day to the next. Generally speaking, we’re currently getting to most new leads within 1 business day, but it may take up to 2 business days in some cases.  We will provide further updates on this timeline as they become available.  No matter what, we will contact every member who inquires, and we’re working overtime to do it.  That means that some members may receive calls outside our normal business hours.  However, we will not call before 8 AM or after 9 PM unless specifically scheduled with the member in advance.   

What should I do if I have not been contacted within 2 business days of inquiring?

We apologize for the delay. Please call us at 1-866-482-1414 and we will work together to understand the cause for the delay.

How long should the process take once my application is submitted?

You should expect a minimum of 60 days at this point. Due to the surge in applications on top of the ongoing health crisis, it’s impossible to say with any certainty how long the process will take. The length of your application process depends on several factors. It’s best to discuss this with your licensed mortgage consultant.

Will a purchase application take the same time as a refinance application?

Since purchase transactions generally have more time sensitivities than refinances, it is customary to prioritize them based on the required closing dates. For this reason, we are managing purchase inquiries separate from refinance inquiries and will prioritize them as much as possible to ensure that closing deadlines are met. 

However, you should understand that it’s likely to take longer than normal. If at all possible, it would be a good idea to build extra time into your purchase contracts with the home seller. 

COVID-19 - Homeowner

COVID-19 Homeowner

What if I lost my job or am temporarily unemployed due to the COVID-19 health crisis?

Currently, all loan applicants are required to show evidence of employment and ongoing income. This generally means that you will be required to provide 30 consecutive days of pay stubs that fall within 60 days of the closing date. In addition, we perform a Verbal Verification of Employment (VVOE) within 10 days of the scheduled closing to confirm that all borrowers remain employed prior to closing the loan. An inability to meet these requirements will unfortunately disqualify you from being approved. 

Have there been any changes to the paperwork I will need to refinance?

Currently, there are some delays with processing and returning results on requests sent to the Social Security Administration. This may mean that you will be asked to provide a copy of your Social Security Card if we are unable to process verification via our standard method.

Do all loan applications require an appraisal?

No, not all loan applications will require an appraisal. Certain FHA or VA loans may be eligible for an appraisal waiver, and even some conventional loan applications submitted to Fannie Mae or Freddie Mac qualify for an appraisal waiver. Any decision to waive an appraisal is dictated by specific program guidelines (such as a streamline FHA refinance or certain VA refinance programs) or by the applicable investor. We run all loan applications through applicable automated underwriting engines provided by investors and generally know early in the process if an appraisal is going to be needed.  

COVID-19 - Homeowner


Can I still buy a home or refinance my home following forbearance? 

Most likely, but it will depend on your unique situation. 

  • If your credit report is in good standing and you have continued making payments during forbearance or reinstated your loan prior to the application received date, there is likely no waiting period to begin processing your new loan. 
  • If you remain in forbearance and have missed payments or have exited forbearance and entered into loss mitigation, please contact the Loss Mitigation Department of Midwest Loan Services (our loan servicing partner) at 1-800-240-4214 or by email at Your options may include reinstatement, repayment plan, payment deferral or loan modification. One requirement may be to make three consecutive timely payments or completing the loss mitigation program or repayment plan, whichever comes first. 


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This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will qualify.
Member Advantage Mortgage, LLC is an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
Member Advantage Mortgage, LLC NMLS #1557.   Alabama Consumer Credit License # 22717. Arkansas Combination Mortgage Banker-Broker-Servicer License # 104160.   Colorado, Regulated by the Division of Real Estate, Mortgage Company Registration NMLS ID # 1557; check the license status of your mortgage loan originator at  Connecticut Mortgage Lender License # ML-1557.   District of Columbia Mortgage Lender License # MLB1557.   Delaware Lender License # 011515. Florida Mortgage Lender License # MLD781.   Georgia Residential Mortgage Licensee, License # 36659. Louisiana Residential Mortgage Lending License NMLS ID # 1557.  Massachusetts Mortgage Lender License # ML1557. Maryland Mortgage Lender License # 06-19371. Michigan 1st Mortgage Broker/Lender/Servicer Registrant # FR020440.  Licensed by the North Carolina Commissioner of Banks, Mortgage Lender License #167098. Licensed by the New Hampshire Banking Department. New Hampshire Mortgage Banker License # 14242-MB.  Licensed by the New Jersey Department of Banking and Insurance. New Jersey Residential Mortgage Lender License NMLS ID # 1557. Oklahoma Mortgage Lender License ML012590 Licensed by Pennsylvania Department of Banking.    Pennsylvania Mortgage Lender License # 33868. Rhode Island Licensed Lender, License # 20112778LL. South Carolina Mortgage Lender License #1557. Texas Mortgage Banker Registration NMLS ID # 1557. Licensed by the Virginia State Corporation Commission, Virginia Lender License # MC-5045, Virginia Broker License #MC-5045. NMLS ID # 1557 (visit for complete licensing information).