If your mortgage is transferred to a new servicer, confirm the effective date and payment-routing dates in the transfer notices, update any automatic bill pay, and check your next statement to make sure the payment was credited. A servicing transfer changes who handles the account; it does not change the loan’s terms except for terms directly related to servicing.
Start with the transfer notices
The old and new servicers generally send notices about the transfer. The old servicer’s notice is generally due at least 15 days before the transfer, and the new servicer’s notice generally arrives within 15 days after it, unless the notices are combined. The notices should identify the effective transfer date, each servicer’s contact details, the last date the old servicer accepts payments, and the first date the new servicer accepts them. See the CFPB’s transfer guidance and Regulation X.
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- Use the payment-start date—not just the date you receive the notice—to decide where to send each payment.
- Update recurring payments through your bank or credit union. If you pay by mail, allow extra delivery time.
- After sending the next payment, review your monthly statement to confirm it posted to the account.
- Direct questions about the account to the new servicer after the transfer.
The transfer notice should also say whether optional insurance availability or terms are affected. The CFPB’s model notice states, “Nothing else about your mortgage loan will change,” while qualifying that terms directly related to servicing may change: CFPB model servicing notice resources.
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If you paid the former servicer
There is a limited 60-day protection beginning on the effective transfer date. If the old servicer receives your payment on or before its due date—including any applicable grace period—during that period, the payment cannot be treated as late for any purpose, and a late fee cannot be charged for it. This is not a general extension for late payments or a reason to stop paying. Under Regulation X, the old servicer must promptly forward a misdirected payment to the new servicer for application or return it and tell you where to pay.
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If the payment amount changed
A higher or lower total payment is not automatically a servicing error. If your monthly payment includes escrow, changes in property taxes or insurance premiums can change the amount due. A new fee or a servicing error may also explain a difference. Compare the new statement with the previous one and the escrow information, then ask the servicer to explain the calculation. The CFPB’s guidance on payment changes recommends taking notes of calls, including the representative’s name and any reference number, and requesting a corrected statement if you suspect a mistake.
If the new servicer changes the payment amount or the accounting method used by the former servicer, it generally must provide an initial escrow account statement within 60 days of the transfer. Compare that statement with your tax and insurance bills rather than assuming the change is wrong. Regulation X also sets a separate short-year escrow statement duty for the old servicer in applicable transfer circumstances.
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If escrow did not pay taxes or insurance
Contact the tax authority or insurance carrier promptly to check what is due, any deadlines, and your exposure. Unpaid property taxes can lead to a tax lien. Send the servicer a notice of error with supporting documents, such as a copy of the unpaid bill, if the servicer was responsible for the missed payment.
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For a formal error dispute or information request, send a written notice to the servicer’s designated address. It may differ from the payment address; check your statement, transfer notice, or the servicer’s website. Do not put the notice on a payment coupon. The CFPB explains the process at How do I submit a notice of error or information request?
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- Write your name as it appears on the loan, the property address, and your account number.
- Describe the error clearly or state what information you are requesting. Include relevant dates and copies of supporting documents.
- Send it to the designated address and keep a copy and proof of sending.
- Continue making scheduled payments while the servicer reviews the issue.
CFPB guidance describes general response timelines: the servicer generally acknowledges a letter within five days, excluding weekends and legal public holidays, and generally responds within 30 days, also excluding weekends and legal public holidays. Exceptions and different timelines apply to certain requests and errors, so these are not guaranteed resolution dates. For a payment-related notice of error, the servicer cannot furnish adverse information about that payment to a credit reporting company for 60 days after receiving the notice. See the CFPB’s guidance on a servicer that does not respond.
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If the servicer misses the required acknowledgment or does not communicate further after the general response period, you can submit a complaint to the CFPB online or by phone. If foreclosure is imminent or you have received legal papers, contact an attorney or housing counselor. CFPB’s homeowner resources include information on HUD-approved housing counseling agencies and the HOPE Hotline; verify current contact details on the agency’s page.
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