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A mortgage servicer can legitimately change, but verify any new payment instructions before acting. Compare the transfer notice with independently obtained contact information, keep paying on schedule, and check that the next statement credits your payment correctly. A servicing transfer changes who handles your account; by itself, it does not change your loan terms.
What a mortgage servicing transfer changes—and what it does not
Your servicer collects mortgage payments and handles account servicing. That company can change even if you still owe the same loan. A transfer of servicing rights is different from a sale of the loan to a new owner; either event may occur without the other, and a servicing transfer alone does not change your loan terms. See the CFPB’s explanation of mortgage servicers and its guidance on a servicing transfer.
Check the transfer notice before changing where you pay
For a typical transfer, the former and new servicers generally send notices. The usual timing is at least 15 days before the effective date for the former servicer’s notice, and within 15 days after it for the new servicer’s notice. A combined notice can be sent at least 15 days before the transfer. Federal rules provide exceptions in specified circumstances, so these timing rules are not absolute.
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Use the notice as a checklist. It should identify the effective date, both servicers and their contact details, and when the former servicer stops and the new servicer starts accepting payments. Compare those details before updating payment instructions. The CFPB describes the usual notice requirements in its Regulation X servicing-transfer rule.
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- Is the named new servicer consistent across the transfer information you received?
- Does the effective date make sense alongside the old servicer’s last payment-acceptance date and the new servicer’s first?
- Can you confirm the new servicer’s contact and payment details through a trusted statement or its established website?
If a notice is missing or details conflict, contact the former or new servicer using a phone number or website you already trust, such as the contact information on a prior statement. Do not rely only on a link, phone number, or payment details in an unexpected email, text, or call. A changed payment instruction is a reason to verify, not proof of fraud. The CFPB advises borrowers to check the transfer notice and contact the servicer with questions.
Make the payment handoff without missing a payment
- Confirm the destination independently. Use trusted contact details to ask the servicer which payment method and account apply after the effective date. Do this before changing a bank bill-pay recipient or using a payment link from a message.
- Update automatic payments. Change recurring payments with your bank or credit union as needed, and confirm when the update takes effect. If you mail a payment, allow time for delivery and follow the verified instructions.
- Keep paying on schedule. Do not stop a scheduled payment because a message looks suspicious. If you cannot confirm the destination promptly, contact the servicer through a trusted channel and ask how to make the payment on time.
- Check the next statement. Confirm that the payment appears and was credited correctly. Contact the servicer promptly if it is missing or misapplied.
The CFPB recommends updating automatic payments and reviewing monthly statements after a transfer. Its transfer guidance explains those steps.
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Know the 60-day protection for payments sent to the former servicer
For the 60-day period beginning on the effective transfer date, a payment received by the former servicer on or before its due date—including an applicable grace period—cannot be treated as late or charged a late fee. The former servicer must promptly forward a payment it receives incorrectly to the new servicer or return it, and tell you the proper recipient. This is a limited protection for a timely payment sent to the former servicer; it is not permission to skip a payment or ignore the transfer notice.
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Recognize mortgage-relief scam warning signs
A legitimate servicing transfer is not the same thing as a mortgage-relief offer. The FTC warns about relief pitches that promise to guarantee a loan change or stop foreclosure, demand an upfront fee, pressure you to pay by cashier’s check, wire transfer, or mobile payment app, or tell you to stop speaking with your lender. These are general mortgage-relief scam warnings; they do not establish that a particular transfer notice is fraudulent.
For a payment or transfer question, contact the servicer or lender directly using contact information you independently trust. If you are struggling to pay or facing foreclosure, the FTC points homeowners to free HUD-approved housing counselors. See the FTC’s mortgage-relief scam guidance.
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What to do if a payment is missing or the notice never arrived
Contact both the former and new servicers if you did not receive a notice, cannot resolve conflicting instructions, or believe a payment was not applied correctly. Ask for an explanation and keep a record of your contacts. You may also send an information request or a notice of error; the CFPB recommends sending transfer-related notices to both servicers. Its servicing-transfer guidance explains this option.
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- Record dates, the phone numbers used, and the names or reference numbers provided during calls.
- Describe the issue clearly, including the payment date and amount or the transfer information you could not verify.
The FTC recommends keeping copies and taking notes when communicating with a servicer. A folder can help keep records together, but it cannot verify a servicer or prevent payment fraud.
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