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Collections & Servicing

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The Collections and Servicing Division was created to facilitate the housing merger pursuant to Act No. 6973 and is primarily responsible for the servicing of all loans and mortgages of the Authority. This Division also has the responsibility of pursuing all delinquent accounts by following the Fair Debt Collections Practices Act .

If you need to request documents related to your mortgage, please complete the applicable form listed below:

Mortgage Update Form – Complete this form to update your personal information on file.

Loss Mitigation Package – Complete if you are in need of foreclosure prevention services.

Request for Documents/Services Form – Complete this form to request mortgage related documents and services.

Request Mortgage Documents

If you need to request documents related to your mortgage, please complete the applicable form listed below:

Mortgage Update Form – Complete this form to update your personal information on file.
Loss Mitigation Package – Complete if you are in need of foreclosure prevention services.
Request for Documents/Services Form – Complete this form to request mortgage related documents and services.

Foreclosure Prevention Tips

1. Don’t ignore the problem.
The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact the VIHFA as soon as you realize that you have a problem.
The Authority has options to help borrowers through difficult financial times.

3. Open and respond to all mail from the VIHFA.
The first notice you receive will provide information about foreclosure prevention options that can help you weather financial problems. Subsequent mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure proceedings.

4. Know your mortgage rights.
Find your loan documents and read them so that you are aware of actions that may be taken by the VIHFA if you can’t make your payments. Learn about the foreclosure laws and timeframes in the Virgin Islands by contacting the Division of Banking and Insurance.

5. Understand foreclosure prevention options (LOSS MITIGATION).

There is a lot of valuable information about foreclosure prevention also called loss mitigation. Listed below are the different Loss Mitigation options available to the Authority’s clients:

  1. Repayment Agreements
  2. Refinance
  3. Loan Modification
  4. Deed in Lieu of Foreclosure

6. Contact the VIHFA’s Certified Housing Counselor.
Housing counselors can help you understand the law and your options and organize your finances. If you need this assistance, you may contact the VIHFA Housing Counselors at (340) 772-4432 on St. Croix and (340) 777-4432 on St. Thomas.

7. Prioritize your spending.
After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses–cable TV, memberships, entertainment–that you can eliminate.

8. Use your assets.
Do you have assets–a second car, jewelry, a whole life insurance policy–that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don’t significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.
You don’t need to pay fees for foreclosure prevention help–use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services the VIHFA will provide free if you contact them.

10. Don’t lose your house to foreclosure recovery scams!
If any firm claims they can stop your foreclosure immediately and you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney or a trusted real estate professional.

Loss Mitigation Options

The following four options are available to VIHFA borrowers to avoid foreclosure:

1. Repayment Agreements
A repayment plan is an agreement that gives a borrower a specified amount of time to bring a delinquent mortgage account current by paying the normal monthly payments plus an additional amount monthly to cure the delinquency. A repayment plan is considered when the delinquency is a result of a temporary hardship that can be resolved.

• The plan must lead to the full reinstatement or to the payoff of the mortgage
• The repayment agreement must be in writing with a stipulation agreement if the loan has already been referred for legal action
• The delinquency must be greater than three (3) months and less than twelve (12) months
• Borrower will be required to seek counseling with one of VIHFA’s certified counselors for budget and credit counseling
• Payments are to be made by payroll deduction, direct debit of bank or credit account
• A repayment agreement will be granted for a period of twelve (12 ) months. If it is determined that the financial condition of the borrower has not changed or improved
since the 1st repayment agreement, then the Authority has the option to extend the agreement after reviewing the loss mitigation package and payment history.

2. Refinance
Refinancing involves paying off an existing VIHFA loan with the proceeds from a new loan by using the same property as collateral. VIHFA does not refinance loans for existing clients in their portfolio who are in foreclosure except for Veterans. This Loss Mitigation option allows a borrower to refinance a current or delinquent mortgage with another lender thus removing the current delinquency or foreclosure potential from the Authority’s portfolio. With this option, the borrower will receive a completely new mortgage with new terms, interest rate and monthly payments. The new loan will replace the current mortgage and may even lower the monthly payment, which may improve the borrower’s financial situation.

3. Loan Modification
A Loan Modification is a written agreement between the Virgin Islands Housing FinanceAuthority and a borrower that permanently changes one or more of the original terms of the Note to bring a defaulted loan current and/or make the payment terms more affordable to the borrower. The appropriate loan modification for the borrower will be determined by the Counselor in the Homeownership Division.

4. Deed in Lieu of Foreclosure
In addition to the restrictions set forth in the deed, VIHFA has the first option to purchase and to sell the property to a qualified applicant on its applicant list. VIHFA may exercise receiving a Deed-In-Lieu of Foreclosure in order to satisfy the debt owed by borrower. When a mortgage is in default and it is has been determined that there are no other alternatives for resolving the delinquency, even through a sale of the property, the Virgin Islands Housing Finance Authority may agree to a voluntary conveyance of the property from the borrower in exchange for the satisfaction of the debt. This option is only available when the Virgin Islands Housing Finance Authority is the first lien holder on the mortgage. In order to utilize this option, the following circumstances must be present:
• No other option for loss mitigation is appropriate in assisting the borrower to maintain the mortgage with the Authority
• A determination has been made that the borrower’s current hardship will be long term or permanent
• Borrower is willing to convey the property to the Virgin Islands Housing Finance Authority

Loss Mitigation Process
For Borrowers, the Loss Mitigation Policy & Procedures are as follows:
1. Once a delinquent Borrower contacts the Collections and Servicing Division (C&S) and inquires about assistance in fulfilling mortgage requirements, C&S will
prepare Loss Mitigation package.
2. The Loss Mitigation Package will be sent to the Borrower within five (5) days of notification and contain a list of documents to be completed by the borrower. These
documents will be used to evaluate the Borrowers’ financial situation.
3. The Loss Mitigation package is returned to the Homeownership Division where a review of the information will be conducted with the Borrower and a determination
made as to which VIIHFA foreclosure prevention option is best suited for the borrower.
4. Once an assessment is completed, the loss mitigation package will provide the Borrower with options available to avoid foreclosure by offering them alternatives
to pay down their mortgage.

The Loss Mitigation Package includes:
• Hardship letter/personal statement about financial situation that caused delinquency
• Copies of personal Tax Returns for the past 2 years with W-2’s
• Copies of business tax returns for past 2 years for self-employed individuals
• For self-employed individuals, a year to date balance sheet and income statement (P&L)
• 2 months of the most recent bank statements
• Proof of Income
• Paycheck stubs for the past 60 days
• Child Support Income
• Unemployment Income
• Disability Income
• Name and contact details of borrower’s current employer
• Recent utility bills – electrical, cable, water and telephone
• Financial Status Form
• Credit Authorization form/$30.00 fee for credit report
• Debts not included on credit report with substantiating evidence
• Power of attorney if applicable
• Copy of complete divorce decree or legal separation agreement if applicable.
• Social Security and valid picture identification for each borrower.

Payment Options

The Virgin Islands Housing Finance Authority has many payment options for borrowers to make their monthly mortgage payments. VIHFA believes in making your life simpler and giving you a greater peace of mind.

Electronic Payment Options

Electronic payment options are convenient, safe and secure methods for paying your mortgage. The benefits of Electronic Payments are:
• Avoid late charges
• Avoid long lines
• Convenient
• Save time and money

These options include:

Online Portal
Our new online portal gives you the option to pay your mortgage from your credit card each month, view your loan details, view account activity and print statements.

Online Portal

Direct Debit Request
You can authorize an electronic funds withdrawal from your checking or savings account to electronically pay your mortgage. With Direct Debit Request, funds are withdrawn on the 15th of each month for the designated payment amount. If the 15th falls on a holiday or weekend, your account is debited on the next business day without incurring a late fee. All you need is your financial institution’s routing transit number, your bank account number and your account type.

Direct Debit Authorization Form

You can electronically pay your mortgage by authorizing VIHFA to charge your VISA or MasterCard each month. With this feature, funds are withdrawn on the 1st or the 15th of each month for the designated payment amount. All you need to do is fill out the authorization form and submit a copy of the front and back of the credit card along with a picture ID. The payment is listed on your account statement as proof of payment. It’s Convenient, Safe and Secure!

Credit Card Authorization Form

Online Bill Pay (Only at Banco Popular)

Online Bill Pay gives borrowers who have a Banco Popular account 24/7 access to make an online payment from their checking or savings account. This service can be accessed at


Our newest option of payment is to make a payment over the phone using your credit card. You can electronically pay your mortgage by calling the office to authorize VIHFA to charge your VISA or MasterCard. With this feature, borrowers must have the card on hand to provide information. The funds are withdrawn immediately for the designated payment amount. Just call (340) 777-4432 for St. Thomas and (340) 772-4432 for St. Croix and we will take care of your payment for you.

These payment methods provide you with ways to make paperless mortgage payments. So, there’s no check to write, no money order to purchase and no voucher to mail! Take care of it all from home or have it scheduled so you don’t have to worry about it each month.

Visit the Office
Pay your bill with a check, money order, ATH or credit card at our offices which are located at 3202 Demarara Plaza, Suite 200 in St. Thomas or 100 Lagoon Complex, Suite 4 in Frederiksted, St. Croix. The payment window closes at 4:00 p.m. daily. Any payments received after 4:00 p.m. will be credited the next business day.

Mail-In Payments
You also have the option to send your payment by mail. Just send the bottom portion of the statement along with a check or money order to our office. Mail in payments must be received at the office on or before the 15th of the month. If you wish to receive a receipt, you may also include a self-addressed envelope and we will mail a receipt back to you.


If you have any questions regarding Collections & Servicing, please call the St. Croix staff at (340) 772-4432, St. Thomas at (340) 777-4432 or contact us.

Mrs. Shanika Charles, Director of Collections & Servicing – St. Thomas
Ms. Patricia Ventura, Collections/Servicing Processor II – St. Thomas
Ms. Nadaisha Sheriff, Collections/Servicing Processor II – St. Croix

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