As we all attempt to adjust to the challenges we currently face in these unprecedented times, SIRVA Mortgage’s top priorities are to keep our employees safe, maintain a high level of service to our customers and clients, and to do our part in preventing the spread of COVID-19. Our team is actively working to make every home loan experience as smooth as possible. We do, however, want to share some valuable information about other areas of the closing process that may experience some disruptions during this time. Currently, the areas most frequently causing delays across the mortgage industry are as follows:
For personal safety reasons, some appraisers are not willing to go assess homes at this time. There are also sellers that may not be comfortable with having outside individuals enter their homes. SIRVA Mortgage orders appraisals from three different appraisal management companies that have access to a large national network of appraisers and will be working to get appraisal needs met.
Some general home inspectors or specific service inspectors have either had their companies temporarily closed or are not comfortable entering homes. Those who are still conducting inspections will likely have increased demand.
Verification of Employment
Whenever possible, we verify employment electronically. However, in many situations employment needs to be verbally verified with the employer. Depending on the company, this may create challenges if HR departments are less accessible or working with reduced staffs.
Some title companies and attorneys have sent out notices that they will be closed for the next couple of weeks. We will keep you informed of the status of your title company and provide an update if title work needs to be re-ordered at any point in the process.
Many government jurisdictions have reduced staff, reduced services, or have closed which could create problems with recording deeds, mortgages, deeds of trust, etc. In situations where document recording is not possible, many title insurance underwriters are allowing delayed recordation.
We understand that delays may be inevitable in some situations, however our team will remain steadfast in our commitment to do right by our customers and the community. We are making every effort to provide a stress-free mortgage process and appreciate your flexibility during this time. We are all in this together.