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Notice of servicing transfer letter

Notice of servicing transfer letter 2025

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The document is a Servicing Transfer Notice (Form SG360) submitted to the Federal Home Loan Bank of Chicago, indicating a pending servicing transfer between a Selling PFI and an Assuming PFI. It outlines the acknowledgment of a Sale of Servicing Contract, details about the Subject Servicing being transferred, including types of mortgages and remittance options, and requires signatures from both parties involved in the transfer.

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Click ‘Get Form’ to open the notice of servicing transfer letter in the editor.
Begin by filling in the 'Owner Bank' and 'Assisting Bank' sections with the respective Federal Home Loan Bank names.
In the acknowledgment section, confirm that both Selling PFI and Assuming PFI have signed a Sale of Servicing Contract by checking the appropriate boxes.
Enter the 'Servicing Transfer Date' and 'Transfer ID #' for accurate tracking of the servicing transfer.
Select all applicable mortgage types and remittance options by checking the corresponding boxes provided in the form.
Fill in the Assuming PFI’s Servicer Identification Number for proper identification within your banking system.
Complete the signature section by entering names, titles, and dates for both Selling PFI and Assuming PFI representatives.
Once completed, save your document and follow any additional instructions for submission, such as faxing it to the MPF Provider.

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Versions	Form popularity	Fillable & printable
2017	4.9 Satisfied (32 Votes)
2007	4 Satisfied (28 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is it normal for a mortgage loan to be transferred?

It is normal for your loan to be sold to a new service provider. The mortgage industry is being hit hard with the rates increasing and applications decreasing. Providers will need to sell loans in order to have capital to fund the loans in their pipeline and keep business going.

Why was my mortgage transferred to SPS?

Homeowners are often transferred to SPS once they become delinquent on their mortgage payments.

Why is the servicing of my loan being transferred?

This just means that a different company is going to handle your payments, escrow, etc. the terms of your loan arent changing. The terms of your forbearance shouldnt change either, but After the transfer, call the new servicer and confirm that. Open communication with your servicer is always important.

How many servicing transfer notices are required?

The transferor and transferee servicers may provide a single notice, in which case the notice shall be provided not less than 15 days before the effective date of the transfer of the servicing of the mortgage loan.

What is a notice of servicing transfer?

As a borrower, all a servicing transfer means is that youll send your payments to a different company. That company will now also handle your escrow account, answer questions about your loan, and manage the foreclosure process if you default on the payments.

Why did my mortgage company transfer my mortgage?

Many mortgage lenders routinely transfer loans to other companies who have the capability to better service the loan over its lifetime. Your mortgage isnt being singled out, but more likely is simply one among many in a very large transaction.

Why did Wells Fargo transfer my mortgage to Shellpoint mortgage?

For instance, a company like Wells Fargo does not want to have their brand name associated with a foreclosure. So they will transfer servicing to a company like Shellpoint once you get too far behind.

Why did my mortgage get transferred to SPS?

Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. Many lenders try to protect their brand when it comes to foreclosing on homeowners.

Notice of servicing transfer letter 2025

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