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To our borrowers: MHP will continue to support your properties

Posted on March 23, 2020

(Updated)

BOSTON --- In response to MHP's decision to require all staff to work remotely, MHP's portfolio management team (PM) wanted to let borrowers know systems have been put in place to enable PM staff to continue its job of providing information and services to its multifamily owners.  

Director of Portfolio Management Cynthia Mohammed said Friday most PM team activities will continue without interruption and PM staff will be available to answer questions. Mohammed provided the following guidelines to help borrowers work with MHP while it takes steps to stop the spread of Covid-19:

  • Continue to send  escrowed invoices and reserve requests for processing. Escrowed invoices should be submitted for payment at least two weeks before the invoice due date. 
  • Payment processing will be minimally impacted. To ensure prompt payment, please submit bills electronically to your portfolio manager and to PM Operations Associate Caitlin Fortin at cfortin@mhp.net.  Processing of mail sent to our office may be slightly delayed.
  •  All site inspections previously scheduled for March have been postponed and will be rescheduled at a later date.

"Our staff understands that your operations may also be impacted as you take steps to ensure your properties and residents are safe from the coronavirus," said Mohammed. "We encourage you to reach out as issues arise."

While MHP's PM team will strive to do its best, please keep in mind that shifting operations from an office to home setting on short notice does present several challenges, ranging from providing and maintaining technology to juggling work while responding to home and family responsibilities. There may be times when our response to customer questions may be delayed. If your question is time sensitive, please email info@mhp.net. Thank you for your patience and understanding.

As a permanent lender for multifamily affordable housing, MHP has provided over $1.4 billion for the financing of over 26,000 units. MHP's PM team oversees a portfolio of over 275 loans, most of which run for a term of 20 years. If you have questions regarding your loan, please contact your portfolio manager or Mohammed at cmohammed@mhp.net or (857)317-8563.