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Coronavirus Pandemic:

Caring for You These continue to be unprecedented times. As always, caring for you, along with our employees and communities is of the utmost importance to us. We understand the worry that can be caused by an unexpected crisis such as the Coronavirus Pandemic especially when it comes to your family and your most valued asset – your home. During this exceptionally challenging time, we are here to help you navigate the various mortgage assistance programs that may be available to help you. However, we must adhere to federal, state, investor and local municipality written guidance on mortgage assistance options. Our team is diligently monitoring the situation daily for any changes that would impact the assistance we may be permitted to offer. It’s times like these when you may need extra support. We are here to help.

Best Way to Reach Us – 24/7

Self-Service We have been experiencing significantly higher than normal call volumes and wait times. We are diligently working to assist those who have been directly impacted. If you are contacting us for a reason other than mortgage assistance options related to the Coronavirus, we ask that you use our website and automated phone system which are both available 24/7. You can use them to make payments, check your loan information and get the latest information on the Coronavirus. At this time, we are waiving any applicable fees to make a payment through our automated phone system.

Log in if You Need Payment Assistance Information

If you have been impacted financially by the Coronavirus, you will find information about mortgage assistance options when you log into the website, along with a form to complete to begin the process. As mentioned earlier, we are closely monitoring for and staying abreast of any announced relief and support measures, such as the CARES Act, that may be offered and will make them available to you promptly. As different support options become available, we will post new information on our website. Our team continues to monitor the situation and will update this site as needed. Please know GSF Mortgage, as always, is here to help YOU. Thank you and stay well.

How Do I “Log In” to manage my mortgage loan?

To log in and manage your account, simply go to gogsf.com. Then click the “servicing center” button. You will then be redirected to our Servicing Landing Page. From there, click the “Login” button. Then, …login and access all the tools and resources right at your fingertips, to assist you with your needs!

Having trouble logging in, or requesting Payment Assistance Information?

With these unprecedented times, IT solutions have absorbed tremendous amounts of drags and latency issues with bandwith causing delays in turn-times. Thus, we empathize with the technology impacts being experienced too. If this is the case for you, just let us know you need information on Covid-19 related payment assistance by filling out our short form. Just go to gogsf.com. Then click on the “servicing center” button. Then fill out the short form on the Servicing Center Landing Page and click the “Submit” button; that’s it! We will have someone contact you!

COVID-19 Forbearance Explained What is a forbearance plan?

A forbearance plan is a retention option in our workout hierarchy for a borrower with an eligible hardship that is temporary in nature and has not been resolved. A forbearance plan provides for a period of reduced or suspended contractual monthly mortgage payments, followed by a full reinstatement, mortgage loan payoff, or another formal workout option to enable the borrower to resolve the delinquency.

Forbearance does not erase the amount you owe on your mortgage. You will have to repay any missed or reduced payments. Interest does not stop accruing on a Forbearance.

Forbearance suspends having to make your payment with no penalty or negative impact. It’s like hitting the pause button on a movie. As soon as you un-pause the movie, you are right where you left off.

Upon the expiration of a forbearance period, the amounts that were unpaid are now called due and payable.

Forbearance is not a deferment on your payments. Deferments are payments owed with no interest accruing that can be capitalized into your loan by extending the maturity or loan amount. This process must go through a loan modification and must adhere to the regulations set forth by the investor and/or insurer of your loan (i.e. FNMA, FHLMC, FHA, VA, USDA, etc…). Your mortgage servicer acts simply as a facilitator to assist you in qualifying and executing said modification/deferments.

GSF Forb - edit

What are the “next-steps” after a Forbearance?

Once the forbearance plan is complete, one of the following must occur:

  • The mortgage loan must be brought current through a reinstatement,
  • The borrower is approved for a formal workout option,
  • The mortgage loan is paid in full, or
  • The servicer refers the mortgage loan to foreclosure in accordance with applicable law.

The mortgage servicer must terminate the forbearance plan if it determines: 

  • The borrower failed to meet the terms specified in the Evaluation Notice as established by the Investor and/or Insuring agency,
  • Any of the eligibility criteria for the forbearance plan are no longer satisfied,
  • The borrower’s hardship is resolved, or
  • The borrower requests that the forbearance plan be terminated.

For additional information on forbearance procedures and guidelines use the following resources:

The servicer must begin attempts to contact the borrower no later than 30 days prior to the expiration of any forbearance plan term and must continue outreach attempts until either a Qualified Right Party Contact (QRPC) is achieved or the forbearance plan term has expired.

The following table provides the requirements the servicer must follow depending upon whether QRPC is achieved.

If QRPC... Then the servicer must determine...

is achieved

  • If the borrower’s hardship has been resolved,

  • The borrower’s intention with respect to the property, and
  • Whether the borrower needs to submit a complete BRP to be evaluated for other formal workout options.

is not achieved

If the borrower is eligible for a Loan Modification and, if eligible, the servicer must solicit the borrower in accordance with the applicable guidelines set forth by the Investor and/or Insuring Agency of the Mortgage.