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As a homeowner, you typically cannot prevent your mortgage from being sold or transferred.
Why is the servicing of my loan being transferred?
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.
What does transfer servicing of your loan mean?
Various reasons. Servicers go out of business or dont renew their contracts. Servicers get bought by other servicers (eg Great Lakes became part of Nelnet).
What is required to occur during a servicing transfer?
What changes in a servicing transfer? The only thing that changes with the transfer of servicing rights for your mortgage is who you make your payment to. Youll receive communication from your current servicer with additional information, including contact information for your new servicer.
What is a notice of servicing transfer?
A notice of transfer will tell you where and when you should start sending your monthly payment, as well as explain your rights and let you know what to do if you have any questions about the servicing of your loan.
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MINUTES STATE BOARD OF CERTIFIED PUBLIC ACCOUNTANTS - wwwprd doa louisiana
Notice of Servicing Transfer. The servicing of your mortgage loan is being transferred, effective [Date]. This means that after this date, a new servicer
For POS transactions, the notice must be posted in a prominent and conspicuous location and a copy of the notice must either be provided to the consumer at the
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