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1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteA mortgage lender makes or funds your loan; a mortgage servicer handles its day-to-day administration, including processing payments and answering account questions. The lender may also be the servicer, but the company you pay can be different—and the company that owns your loan can be a third entity. Your latest mortgage statement and any transfer notice are the practical guides to where to send payments and whom to contact.
What’s the difference between a mortgage servicer and a lender?
The lender is the institution that made or funded the mortgage when it was originated. The servicer is the company that manages the loan after it is made. The Consumer Financial Protection Bureau describes servicing as handling a loan day to day, including accepting payments and answering borrower questions in its Loan Estimate explainer.
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| Role | What it does | How it relates to the loan |
|---|---|---|
| Lender or originator | Makes or funds the mortgage. | May continue servicing the loan, but does not have to. |
| Loan owner | Owns the debt. | Ownership can change if the loan is sold, independently of who services it. |
| Servicer | Handles day-to-day administration, such as processing payments, sending statements, responding to account inquiries, tracking principal and interest, and managing escrow when applicable. | May be the lender, the loan owner, or a separate company hired to service the loan. |
These roles can belong to different companies. A loan owner may also hire a subservicer to perform some or all servicing work. The CFPB explains the distinction between loan ownership and servicing in its mortgage servicer guidance and guidance on what happens when a mortgage is sold.
Who should you contact about your mortgage account?
For payment processing, escrow, statements, or account history, contact the servicer named on your latest mortgage statement. That is generally the company handling the account, even if another institution originated or owns the loan. The CFPB advises borrowers to use their servicer for account help and mortgage assistance questions in its servicer guidance.
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- Payment or payment-history question: Contact the current servicer on your latest statement.
- Escrow, statement, or account-detail question: Contact that same servicer.
- Difficulty making payments: Contact the servicer promptly to ask about available mortgage assistance options.
What happens if your mortgage is sold?
A sale changes who owns the debt; it does not automatically change the servicer or where you send payments. The new owner generally must notify you within 30 days of the ownership transfer, according to the CFPB’s mortgage sale guidance. Check the notice for the owner information, and look for a separate servicing notice before changing payment instructions.
What happens if your mortgage servicer changes?
A servicing transfer changes the company administering the loan. It does not, by itself, change the loan’s terms; only terms directly related to servicing may be affected. For an ordinary transfer, Regulation X generally requires the old servicer to notify you at least 15 days before the effective date and the new servicer to notify you no more than 15 days afterward. The servicers may send one combined notice at least 15 days before the effective date. Exceptions apply, including certain transfers after a servicer’s termination for cause, bankruptcy, or government conservatorship or receivership. See Regulation X, 12 CFR § 1024.33.
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Read the transfer notice for the effective date, the new payment destination, and contact details. Update any automatic payment instructions and check the next statement to confirm your payment was credited.
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If you accidentally pay the old servicer
For the 60 days beginning on the effective transfer date, a payment sent to the old servicer on or before its due date—including any applicable grace period—cannot be treated as late for any purpose. The old servicer must promptly forward a misdirected payment or return it and tell you the proper recipient. This is a specific protection after a servicing transfer, not a general extension for late mortgage payments. The requirements and exceptions are in Regulation X, 12 CFR § 1024.33.
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What to do if a transfer causes a payment or account problem
- Compare your records: Keep the transfer notice, payment confirmation, and statements showing the payment and any account change.
- Contact the relevant servicer: Ask the company handling the issue to explain the payment status or account history.
- Submit a formal request if needed: The CFPB describes processes for requesting information or sending a notice of error to a servicer in its mortgage servicer guidance.
How to tell which company does what
Use the documents that apply to your specific loan rather than assuming that the lender, owner, and servicer are the same company:
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- Latest mortgage statement: Check the servicer’s name, payment destination, and account contact details.
- Servicing transfer notice: Check whether administration is moving, when the change takes effect, and where future payments should go.
- Loan sale notice: Check who owns the loan; do not treat it as proof that the servicer changed.
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