Learn about our Relief Programs for Individuals below.
We know times are tough. Whether you need financial relief, or you just need an extra hand using some of MountainOne’s digital banking services, we are here to help! Please contact us at 855-444-6861 to discuss your options. We will listen, review your account(s), and help to identify a solution that’s best for your unique situation. You can also complete one of the Online Request Forms below.
ONLINE REQUEST FORMS:
- Request an Overdraft Fee Waiver
Has your account been overdrawn due to a COVID-19 related hardship? If so, you can request a fee waiver here.
- Request an Early CD Withdrawal
Customers in need of increased cash flow due to COVID-19 related hardships can request a one-time early CD withdrawal up to $25,000 without penalty.
- Get help with Online Banking, Mobile Banking or Bill Pay
We offer an array of digital banking services that enable customers to do their banking from home. Our team is happy to help you get set up, and to explain the features and benefits of our platform.
By completing an Online Request Form, our team will be alerted of your request and will contact you within 1 business day.
Please call us at 855-444-6861 Monday – Friday from 8am-6pm or Saturday from 9am-12pm.
MORTGAGE & CONSUMER LOAN DEFERMENTS
As part of MountainOne’s COVID-19 Pandemic Financial Relief Program, we are happy to offer loan deferments to qualifying borrowers to help you avoid delinquencies and negative credit bureau reporting.
Through the program, we will grant a deferral of loan payments, including escrow payments if requested, for up to 120 days (the “Deferral Period”) to borrowers whose loans are held in MountainOne Bank’s portfolio (i.e. not serviced for outside investors). This program is extended to home mortgage loans and lines of credit, and other secured and unsecured consumer loans and lines of credit.
For mortgage loans we service on behalf of outside investors, we will follow deferment programs as promulgated by those investors.
We’ll cover the following topics below:
- Three ways to Request a Deferral
- What to Expect
- Important Information and Disclosures
- Contact Us
- The loan must be held by MountainOne Bank in our loan portfolio; not serviced by MountainOne Bank for other investors (such as Fannie Mae);
- Borrower must have been current on all payments due under the loan as of February 29, 2020;
- Borrower must have an original loan amount equal to or less than the “conforming loan limit” as of the date the loan was originated (click here for list of conforming loan limits by year);
- Borrower must represent that they have experienced a financial hardship as a result of COVID-19 issues; and
- Borrower must request a deferral on or before June 30, 2020, and deliver a signed Loan Payment Deferral Agreement to MountainOne Bank by July 15, 2020. (These deadlines may be extended by the Bank as circumstances warrant.)
- Submit your request online by completing our Online Loan Deferral Request Form.
- Contact MountainOne Bank by telephone at 855-444-6861.
- Print and complete a Printable Loan Deferral Request Form and mail it to us at MountainOne Bank, Loan Operations, 93 Main Street, North Adams, MA 01247.
We will confirm receipt of your request within 1 business day. We will review your request and contact you as needed for additional information, using the email address and/or phone number provided on your Online or Printable Request Form.
Under the Loan Payment Deferral Program, payments of interest and, if requested, escrow (for taxes and insurance) that would otherwise be due during the Deferral Period will instead be deferred until the maturity date of the loan, which will not be extended.
The deferral of interest and escrow means that the borrower may pay the Bank more total interest than was disclosed at the time of the signing of the loan agreement, and will result in a balloon payment at the time of the final payment required by the loan agreement, unless additional payments of principal were (or are) made during the life of the loan. The maturity date of the loan will not change.
MountainOne Bank is not forgiving any payments under the Loan Payment Deferral Program and interest will continue to accrue during the Deferral Period.
The program will be administered fairly and impartially to all eligible customers, consistent with MountainOne Bank’s policies prohibiting discrimination against persons on any prohibited basis (such as classes of persons protected by the federal Equal Credit Opportunity Act and the laws and regulations enforced by the Massachusetts Commissioner Against Discrimination), and to allow MountainOne Bank to expedite the loan modification without performing any new underwriting.
Please call our Customer Care Center at 855.444.6861 Monday through Friday 8am-6pm and Saturday 9am-12pm.