COVID-19: FAQs

PERSONAL AND SMALL BUSINESS FAQ

Yes, our banking center lobbies and drive-thrus are open for your convenience. For the most up-to-date information about our banking centers, please visit our location finder page.

You can call to speak with a banker at 844-517-3308, schedule a telephone appointment, or select “chat” on our website to visit with a banker. Schedule an appointment.

You can use our digital and mobile banking services to find the nearest ATM, access your accounts, transfer money, deposit checks, pay bills, make loan payments, block and unblock your debit card, and much more. Of course, if you would prefer to talk with someone, our ExpressBankers are available 7 a.m.-9 p.m. CT (Monday-Friday) and 8 a.m.-5 p.m. CT (Saturday).

We are following guidelines established by the Centers for Disease Control and Protection (CDC) to keep you safe. We sanitize our banking centers every night, provide hand sanitizer for our teams, and have limited the number of staff and visitors at each location to ensure social distancing.

MORTGAGE FAQ

If you can continue making your mortgage payments, you should do so.

Customers experiencing hardship due to COVID-19 who would like to request assistance with home loan payments may submit an online request for a forbearance of mortgage payments.

For more details on the CARES Act Mortgage Forbearance, watch this video or visit the mortgage and housing assistance page from the Consumer Financial Protection Bureau.

Mortgage assistance options other than a forbearance agreement will require supplementary documentation. Please complete the mortgage assistance package to determine the best available options for you.

Mortgage Assistance

If you are needing short-term assistance, BOK Financial is able to offer a forbearance plan to temporarily suspend your mortgage payments for an agreed-upon amount of time. At the end of the forbearance period, if a hardship still exists, you may extend your forbearance plan or qualify for a repayment plan, which allows you to bring your account current by paying your monthly payment, plus an additional amount each month. Supplementary financial information may be requested to qualify for a repayment plan.

If you are experiencing a long-term or permanent hardship, other options may be available to you. Please complete our online web form and our team will work with you to explore all options that may be available based on your loan type and financial situation.

Mortgage Assistance

If you are a mortgage client, and your hardship has been resolved, and you now have the financial capacity to resume making your monthly mortgage payment but can’t repay the delinquent amount accrued during the forbearance plan, other options are available to you. Please download and complete the long-term hardship forms so that we can analyze the options available to you. We’ve included a checklist and correspondence on how to return these documents to us.

A forbearance means that you will temporarily be allowed to suspend your monthly mortgage payment for an agreed-upon amount of time, to afford you and your family an immediate short-term resolution.

Benefits under the CARES Act:

Government loans (Fannie Mae, Freddie Mac, FHA, USDA and VA)

  • Payment relief through a forbearance plan provides a reduction or suspension of your mortgage payments for up to 12 months, offered in increments of up to six months.
  • Late fees will not be assessed.
  • Following the forbearance period, you can request to be reviewed for a longer-term solution, including a repayment plan to catch up gradually or a permanent loan modification to maintain or reduce your monthly payment.

All other loan types:
  • Payment relief through a forbearance plan provides a reduction or suspension of your mortgage payments for up to three months.
  • Late fees will not be assessed.
  • Following the forbearance period, you can request to be reviewed for a longer-term solution, including a repayment plan to catch up gradually or a permanent loan modification to maintain or reduce your monthly payment.

 

A forbearance plan offers a reduction or suspension of your mortgage payments. After the forbearance period ends, the borrower will resume full monthly payments and be expected to repay the unpaid portion of the loan following the conclusion of the forbearance agreement.

Like forbearance, a deferment allows the borrower to skip mortgage payments for a set period of time. There may be more options with regard to the unpaid interest during this time. For example, it may be added to the loan principal.

A deferment requires supplementary information to determine the best long-term financial assistance options available to you.

Mortgage Assistance

A forbearance plan offers a reduction or suspension of your mortgage payments. After the forbearance period ends, the borrower will resume full monthly payments and be expected to repay the unpaid portion of the loan following the conclusion of the forbearance agreement.

It is important to know that your mortgage payments during the forbearance period are not forgiven.

For more details on the CARES Act Mortgage Forbearance, watch this video from the Consumer Financial Protection Bureau.

A forbearance agreement will show as the last status reported to the credit bureaus at the time you enter the forbearance period.

If you have entered into a forbearance agreement, late charges will not be assessed during the term of the agreed payment deferment.

Please be aware that BOK Financial's mortgage division does not offer residential mortgage refinance products to borrowers who are participating in a forbearance plan. Other banks likely have similar policies. If you are considering applying to refinance your loan, then you may want to discuss your options with a loan officer before deciding to exercise your right to forbear your mortgage payments.

We work with you on the next steps after the forbearance. The best solution will depend on your financial situation when your forbearance plan has concluded. If you are able to afford it, you can reinstate which means paying the total amount due, or we can set up a repayment plan, allowing you to catch up gradually while you are paying your regular monthly payment.

If you can’t afford the additional amount, but you can resume making your normal monthly payment, we can leverage alternative ways of paying back the suspended payments in a manner that is affordable.

Please visit our loan solutions center so we can analyze the options available for you. You will be asked to create login credentials and answer a few questions to help us determine the best options to bring your loan current.

We're here to help and have the available resources to do so as we continue to monitor the situation closely. Customers impacted by the current economic environment who need assistance, should complete the mortgage assistance form to request enrollment in a forbearance plan. A forbearance plan is available to provide short-term relief if you are experiencing financial hardship.

If your hardship has been resolved, but you can’t repay the delinquent amount accrued during the forbearance plan, other options may be available. Please visit our loan solutions center, create login credentials, and answer a few questions to help us determine the best options to bring your loan current.

If your hardship is unrelated to COVID-19, and you need mortgage assistance, you may also visit our loan solutions center to help us determine the best option that fits your hardship situation.

We encourage you to use self-service options on our mortgage website.

If you do need to speak with one of our customer service specialists, we can be reached at 866-910-5224 from 7 a.m. to 6 p.m. CST (Monday through Friday).

COMMERCIAL FAQ

In the event where employees do not have access to physical tokens for payments/approvals we can make available “one-time passcode” delivery options through SMS/text.

Wire PINs can be an alternative.

Download the TreasurySource or BusinessSource app from the app store associated with your mobile device and ensure users have access to mobile entitlements online.

To keep our clients, employees, and communities safe, we are limiting person-to-person interactions at our branches. Utilize the branch and ATM locators available on the mobile app and bank website to learn more. You can also use our mobile deposit and RCC services for your remote depositing needs.

Our team is ready to help. Please contact us at the following numbers:

Market Local Number Toll Free Number
Albuquerque 505-855-0803 866-535-2082
Arkansas 479-973-2611 800-878-7817
Dallas 214-987-8870 866-407-4147
Denver 303-863-4457 866-434-2084
Fort Worth 817-255-2134 866-407-4147
Healthcare 918-588-8266 844-888-1484
Houston 713-289-5858 866-827-3710
Kansas City 816-881-8270 877-265-4069
Oklahoma City 405-272-2496 800-541-4844
Phoenix 602-808-5342 866-802-5506
Tulsa 918-588-8655 800-878-7817

We offer a Business Bill Pay service as an alternate option for your payroll or B2B payments (check or electronic), which can be used as a business resiliency plan.

It’s easy. Once your company has been setup and registered for the Business Bill Pay service, you will need to download a CSV file from your accounting systems and upload the payee file directly into the Business Bill Pay service. You can test the file to ensure you have it available as an option, even if you don’t ever need to use it.

With our Business Bill Pay service we offer four printing sites across the country.

Contact your treasury management officer or your treasury client services professional.