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Minneapolis
Notice of Assignment...

Minneapolis Minnesota Notice of Assignment, Sale, or Transfer of Servicing Rights, Mortgage Loans

Category:

Loans and Lending - Real Estate

State:

Multi-State

City:

Minneapolis

Control #:

US-37006-C

Format:

Word;

Rich Text

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Description

This form notifies a borrower that the servicing of his/her mortgage loan is being assigned, sold, or transferred to a new lender.

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Interesting Questions

What happens if I accidentally send my payment to the old servicer?

If that happens, just reach out to the new servicer. They can guide you on how to correct it; it’s a hiccup that can be sorted out easily.

Can I refuse to transfer my servicing rights?

Unfortunately, you can't refuse the transfer. It’s part of the agreement you signed when you took out your mortgage.

What should I do if I don't receive my new servicer's information?

If you don’t hear from the new servicer after a reasonable time, reach out to your previous servicer or check your original mortgage documents; they might point you to the new contact.

How do I know if the new servicer is trustworthy?

You can do a little digging on the new servicer. Look them up, read reviews, and check if they are approved by the necessary federal and state authorities.

Will my mortgage terms change after this transfer?

Nope, your mortgage terms should stay the same. The only thing that changes is who you're sending your payments to.

Why did I receive this notice in the mail?

You got that notice because your mortgage has been sold or transferred. It's just the nature of the business; loans get shuffled around from time to time.