We're here to help
We know this is a challenging time. Amidst the COVID-19 outbreak and economic slowdown, we know some customers may have temporary difficulties making their loan payments. We’re here to help.
First and foremost, if you can pay your loan, please continue to do so. But if you are facing financial difficulties, we may be able to provide relief. The assistance programs we offer, including those for federally-backed loans associated with the federal CARES Act, are payment forbearance. Forbearance is not forgiveness, but rather a temporary pause of your monthly mortgage payment. Please be aware that when the forbearance period is over, we consider several options, which may include a lump sum payment, a repayment plan over a set period of time, or a loan modification. For borrowers that request post-forebearance assistance and qualify, lump sum payment may not be required.
If you need immediate payment assistance, please request help from our customer care team via our Payment Assistance Request form. We will make every effort to respond to you within 3 business days. If you have additional questions, please include them within the comments section of the form and we will address your questions when we contact you.
If you need to call our contact center, we ask you to please be patient. Due to the COVID-19 situation, we are experiencing high call volumes.
Homeowner Assistance Fund: The American Rescue Plan Act’s Homeowner Assistance Fund is a new federal program to assist homeowners who fall behind on their mortgage and other housing related expenses. Individual states will administer the program; to find the latest information about programs that may be available in your state, please visit https://www.ncsha.org/homeowner-assistance-fund
California borrowers: California expects to receive $1.055 billion through the American Rescue Plan Act's Homeowner Assistance Fund, which is being administered by the United States Treasury. The California Housing Finance Agency (CalHFA) will administer these funds as mortgage relief on behalf of the State of California, with the goal of helping homeowners at urgent risk of losing their homes. Once the U.S. Treasury approves California’s plan, CalHFA will announce details on when and how to apply. To learn more about the status of California’s plan and your potential eligibility for assistance, please see https://camortgagerelief.org
Finally, to learn more about the CARES Act and the relief it provides for federally-backed mortgage loans, we suggest you watch the video put together by the Consumer Finance Protection Bureau. To see it, click here.
Bank of the West provides, free of charge, translation services through a third-party vendor for borrowers who speak in languages other than English to assist with borrowers’ general questions made via the phone numbers listed above about the assistance options available and the process for requesting assistance. Borrowers must provide their own qualified interpreters in order for the Bank to discuss the terms of any specific request for assistance. Further, the Bank is not able to provide a translation of written communications.
New York City residents: A translation and description of commonly-used debt collection terms is available in multiple languages on the website of the Department of Consumer Affairs, www.nyc.gov/dca (Tip: search “glossary”).
Get Help
Mortgage, Home Equity Loan or Home Equity Line of Credit (HELOC)Payment Assistance Request Form
Credit Card or Installment Loan (Auto, RV, Marine, Unsecured)
Payment Assistance Request Form
Home Equity Lines & Loans
Installment Loans & Credit Cards
TTY 1-800-659-5495
Frequently Asked Questions for Mortgage Customers
Who Should Apply for Assistance?
Under the federal CARES Act, you are eligible for assistance if you have a federally-backed mortgage loan and are experiencing a financial hardship due, directly or indirectly, to the COVID-19 emergency. For example, you may be subject to a COVID-19 financial hardship if you or your spouse have lost employment due to the crisis. You will be required to affirm that you are experiencing such a hardship. You will not be required to provide additional documentation.
Federally-backed mortgage loans include FHA, VA, and USDA-backed loans, as well as loans owned by Fannie Mae. If your loan is not federally-backed, we have other relief options we can offer you if you request assistance.
If you can afford to make your mortgage payments, please do so. The relief offered is not payment forgiveness. The longer you put off making payments now, the more difficult it may be to bring your payments current later. The time-period for which you are eligible for payment relief is limited, so you should not ask for assistance before you really need it. We encourage borrowers start with a 3-month (90-day) forbearance period, and not go longer until they know they need it.
Those with federally-backed mortgage loans subject to the CARES Act are eligible to request up to 6 months (180 days) of payment relief, with the possibility of requesting up to an additional 180 days if they can affirm their COVID-19 financial hardship continues. We strongly recommend against suspending your payments beyond 90 days unless you really need it. Again, any payments you skip are not forgiven. They will need to be paid later.
What is a Forbearance?
A forbearance is an agreement by a lender to allow a borrower to make lower payments, or no payments, for a period of time during which the lender agrees not to pursue collections or foreclosure as long as the borrower abides by the terms of the forbearance. In the case of COVID-19 relief under the CARES Act, borrowers with financial hardships due to the COVID-19 emergency are entitled to a forbearance period where they don’t make their mortgage payments at all. However, those payments must be paid, and the loan brought current, at the end of the forbearance period. If you are unable to bring your loan current all at once, which is not uncommon, you are encouraged to apply for further assistance. If you qualify for further assistance and are approved, alternative options, such as short term repayment plans or permanent loan modifications may be available.
It’s important to note that a forbearance related to COVID-19 won’t have a negative impact on your credit during the forbearance period.
What Happens When the Forbearance Period Ends?
When your forbearance period ends, the payments you skipped during the forbearance need to be paid. Generally there are three types of options and we will work with you to determine your best solution. For any option other than the lump-sum payment, you must apply for further assistance and qualify. Not all borrowers will qualify for post-forbearance assistance.
Lump Sum Payment: If you can afford it, the simplest thing to do is make a lump sum payment of the total amount of all skipped payments and bring the loan current. Then you resume your regular monthly payments according to the terms of your loan documents.
We understand that many borrowers will not be able to pay in full, so there are other options if you apply and qualify.
Repayment Plan: The second option, if you apply for it, qualify, and are approved, is to make the skipped payments over time under a short-term repayment plan. With this option, you would make your regular mortgage payment each month plus an additional amount that goes toward the skipped payments from your forbearance period until all of the skipped payments are satisfied.
Loan Modification: If you apply for it, qualify, and are approved, we might permanently modify your mortgage loan to add the amount of your skipped payments to the principal balance owed on your loan, which allows you to pay the skipped payments over the entire remaining term of your loan. A loan modification may involve extending the term of your loan, if necessary, to keep your payments affordable. For FHA loans, an interest-free loan for the overdue payments may be available from the Department of Housing and Urban Development (HUD). This loan does not have to be repaid until the first mortgage is paid off or you no longer occupy the property, such as when you sell the home or refinance the loan.
Deferral: A deferral is a type of loan modification. If you apply, qualify, and are approved, this repayment option lets eligible homeowners defer unpaid mortgage payments related to a COVID-19 hardship. Those payments become a non-interest-bearing balance. The balance is either due at the maturity date or earlier upon sale or transfer of the property, refinance of the mortgage loan, or payoff of the mortgage loan. In some cases, the loan term may be extended to allow you to keep making regular payments toward the deferred balance.
You May be Able to Extend Your Forbearance Period, if Necessary.
We encourage borrowers start with a 3-month (90-day) forbearance period, and not go longer until they know they need it. Those with federally-backed mortgage loans subject to the CARES Act are eligible to request up to 6 months (180 days) of payment relief, with the possibility of requesting up to an additional 180 days if they can affirm their COVID-19 financial hardship continues. We strongly recommend against suspending your payments beyond 90 days unless you really need it. Again, any payments you skip are not forgiven. They will need to be paid later.
COVID-19 Hardship
If you can make your payments you should continue to do so. The relief offered is not payment forgiveness. The longer you put off paying your loan now, the more difficult it may be to bring your payments current later.
If your ability to pay your mortgage is impacted due to the COVID 19 pandemic, you may be eligible to delay making your monthly mortgage payments for a temporary period, during which:
- You won’t incur penalties, late fees or additional interest
- You won’t have further delinquencies reported to the credit bureaus during the forbearance period
- Foreclosure and other legal proceedings may be suspended
If you have trouble catching up at the end of this temporary relief period, additional assistance may be available if you apply and qualify.
If your loan is a federally-backed, assistance is available per the federal CARES Act. If your loan is not federally-backed, we have other options available to help you.
No matter your loan type, we're here to help. Contact us as soon as possible to let us know about your current circumstances. As a result of the COVID-19 crisis, our call wait times are longer than usual at this time. We encourage you to complete our Payment Assistance Request form instead.
NON-COVID-19 Hardship
You do not need to be past due on payments to qualify for assistance. A variety of home retention options may be available to you if you qualify:
- A loan modification for a more affordable monthly mortgage payment
- Alternative repayment or forbearance plans1 to help bring delinquent payments current within months rather than requiring a lump sum
Other options may be available to allow you to leave your home and avoid foreclosure, including short sales2 and deeds in lieu of foreclosure3. Your eligibility for any foreclosure avoidance option is based on a variety of factors such as income, expenses, and loan type.
Contact us as soon as possible to let us know about your current circumstances. As a result of the COVID-19 crisis, our call wait times are longer than usual at this time. We encourage you to complete our Payment Assistance Request form instead.
COVID-19 & Non-Covid 19 Hardship
If you can make your payments, please continue to do so. The relief offered is not payment forgiveness. The longer you put off paying your loan or line of credit now, the more difficult it may be to bring your payments current later.
If you are unable to make your payments due to the COVID-19 crisis, we have options available to you.
Contact us as soon as possible to let us know about your current circumstances. As a result of the COVID-19 crisis, our call wait times are longer than usual at this time. We encourage you to complete our Payment Assistance Request form instead.
Contact us as soon as possible to let us know about your current circumstances. As a result of the COVID-19 crisis, our call wait times are longer than usual at this time. We encourage you to complete our Payment Assistance Request form instead.
Credit Reporting Disputes
We may report information about your accounts to the credit bureaus. If you think we've reported inaccurate information, please write us at: Bank of the West PO Box 2180 Omaha, NE 68103. In your letter, please include name, address, account number and/or social security number, reason for dispute and your signature to indicate you're the borrower submitting this dispute.
Report errors or get information
If you believe there is an error on your account, or you would like information regarding your account, you must submit your request in writing to the appropriate address shown below to ensure a timely response. Please include detail as to the alleged error and/or information desired.
Inquiries and requests for first-lien residential mortgage loans should be submitted to this address:
Bank of the West
PO BOX 3492
Omaha NE 68102-3492
Inquiries and requests for Home Equity products should be submitted to this address:
Bank of the West
PO Box 2078
Omaha NE 68102-3492
Inquiries and requests for Credit Cards, Installment and Unsecured Loans & Lines should be submitted to this address:
13505 California St
NE-BBP-02-I
Omaha, NE 68154
Other resources
Department of Housing and Urban Development (HUD)
Call 1-800-569-4287
TTY 1-800-877-8339
Legal information and Disclosures
1Forbearance plan: The homeowner pays delinquent payments and/or fees over a set period of time rather than in one lump sum.
2Short sale: The homeowner sells a property for less than the amount owed.
3Deed in lieu: The homeowner hands over the property title to the lender in exchange for a release from the mortgage payment obligation.