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Texas
Plano
Notice of Assignment...

Plano Texas Notice of Assignment, Sale, or Transfer of Servicing Rights, Mortgage Loans

Category:

Loans and Lending - Real Estate

State:

Multi-State

City:

Plano

Control #:

US-37006-C

Format:

Word;

Rich Text

Instant download

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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 continue to send payments to my old servicer?

You might end up with a mix-up! Your payments could get lost in the shuffle, so make sure to start sending payments to your new servicer right away to stay on track.

Do I have to do anything when I receive the notice?

Not really! Just keep the notice for your records. Your payment methods might change, so make sure you read through the info carefully.

How will I know if my servicing rights have been assigned or sold?

You'll get a notice in the mail. It’ll give you the lowdown on who your new servicer is and what you need to do next.

Why would my mortgage servicer change?

There are lots of reasons! Sometimes companies sell their servicing rights to focus on other areas of their business or because they think another company can do a better job.

What is a Notice of Assignment, Sale, or Transfer of Servicing Rights?

It's basically a heads-up to let you know that your mortgage servicing rights are changing hands. In simple terms, the company that manages your mortgage might be swapped out for a different one.