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COVID-19 Customer Information

Here you can find the latest updates regarding COVID-19. We have a suggested action plan for you, and below we have Frequently Asked Questions. Our contact center colleagues are working diligently to answer all customer emails and phone calls and we thank you for your patience during these tough times. We appreciate your positive support towards our colleagues as they have worked hard since the beginning of this outbreak to offer assistance and peace-of-mind to homeowners. Please do not send us multiple emails at this time; multiple emails will slow us down and won't bump you up in the queue as we are working through them in the order that they are received. Your first email will hold your spot in line for you and rest assured we will get back to you. Thank you for your patience and understanding. 


What you should do in regards to COVID-19 
Please identify which customer you might be and see our suggested course of action. Together we will get through this and appreciate your patience during these times. 

Were you laid off in an industry directly impacted by COVID-19?
If your income has directly been impacted by COVID-19 and need immediate assistance because you are unable to make your mortgage payments, should contact us five business days before your mortgage payment is due. You will be offered up to six months payment relief. Please download and complete this form and email it to cap@paradigmquest.com five days before your next mortgage payment. Please do not send us multiple emails; multiple emails won't bump you up in the queue as we are working through them in the order that they are received. 
 
Were you laid off in an industry NOT directly impacted by COVID-19 (i.e. banks)?
We may request additional information and confirmation of the lay-off so have that information ready. We are prepared to work with you for a solution, including up to six months payment relief. Five business days before your mortgage payment is due, please download and complete this form and email it to cap@paradigmquest.com. Please do not send us multiple emails; multiple emails won't bump you up in the queue as we are working through them in the order that they are received. 
 
Are you still working but have other factors impacting your ability to make a mortgage payment?
If you have been financially impacted by COVID-19 but are still able to work you may still reach out to us if you are in immediate need and at risk of missing a mortgage payment. Solutions may be offered on a case-by-case basis and may include payment relief if you can demonstrate financial hardship. Five business days before your payment is supposed to go out, please download and complete this form and email it to cap@paradigmquest.com. Please do not send us multiple emails; multiple emails won't bump you up in the queue as we are working through them in the order that they are received. 
 
Do you have important questions but aren't facing immediate financial hardship?
If you have questions you are encouraged to reach out to your mortgage broker or see frequently asked questions below for the answers. We ask that you please reserve our customer service lines for those in immediate need. Your questions and concerns are important to us and if your broker is unable to assist you and your question isn't answered below, we encourage you to reach out to us on social media or check the comments in our recent posts. We are providing regular updates on our Facebook page. Together, we will get through this.

Frequently Asked Questions

What is your turnaround time on emails or voicemails? 
Our normal response times are within 24 hours, however during this time email and voicemail response is 7-9 days in most circumstances. Please note that once you send an email you are in the queue and rest assured someone will be in touch. Multiple emails will not increase the speed in which someone reaches out to you. 
 
To support more efficient responses, please ensure you included all your pertinent information to help us avoid the need for multiple phone calls. This includes your name, mortgage number, property address, how you have been financially impacted by COVID-19 (for example, illness, income disruption, self-isolation) and the best phone number to reach you.  
 
What solutions are being offered? 
We continue to offer mortgage payment deferrals and other opportunities for relief on a case by case basis to help customers facing financial challenges because of COVID-19.  
 
What is a “mortgage payment deferral”?
A mortgage payment deferral is where regularly schedule mortgage payments are postponed for a defined period of time. Regular mortgage payment amounts will resume at the end of the deferral program.  Customers will be provided the option to make additional payment to pay back the deferred payments and accrued interest or it may be added to the mortgage balance at renewal.  

We continue to offer mortgage payment deferrals and other opportunities for relief on a case-by-case basis to help customers facing financial challenges due to COVID-19.  
 
Does the deferred payment only apply to the mortgage payment? 
Under the deferral program, only the mortgage payment (principle and interest) is deferred.  Other payments regularly withdrawn with the mortgage payment by the lender, such as property taxes or life-disability insurance, are not included in the deferral.  
 
While we know some municipalities are establishing tax payment relief, these programs have not been finalized. We will continue to monitor these programs and adjust payments for the customers impacted at their request.
 
Will deferring my mortgage payment affect my credit score? 
A lender-approved deferment is not a missed payment and will not affect your credit score. We don't report mortgages to the credit bureau and even if we did, we wouldn't be reporting it as missed/delinquent payments since they are approved mortgage deferrals.
  
Is there a deadline to contact MERIX for payment deferrals? 
Request for payment deferrals must occur on or before June 30, 2020.  However this date may be extended based on the impact of COVID-19 and we will continue to keep you informed as this situation progresses. We ask that you wait to email us until five days before your next scheduled payment so that we can address all customers in time for their payments. 
 
What if I incur an NSF fee?
If you aren't going to be able to make a mortgage payment, please contact us five days before your scheduled mortgage payment. If you do not get through in time to defer your payment, we may waive these types of fees if we see that you tried to contact us prior. These will be handled on a case-by-case basis.   
 
I have a rental property, what if my tenants are unable to pay me?
These will be handled on a case-by-case basis and we may consider solutions if you can demonstrate true financial hardship. Some provincial governments have introduced tenant relief programs. Rental property owners should encourage their tenants who have been financially impacted due to COVID-19 to apply for these programs if available.
 

Please note that we have increased our voice message capacity, brought in additional resources, and streamed-lined messages and information to offer faster solutions customers. We are doing our best to work through the emails and voicemails as quickly as possible. If you have called or emailed already, rest assured that the information has been received and we will support our customers in these difficult times. We are answering all emails in the order of which they were received and thank everyone for their patience. As a reminder, mortgage payment deferrals are not being offered to clients that are still actively employed and not experiencing financial hardships.


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