Where your mortgage goes after closing, and why it gets sold
Payments during a transfer
How it flows
For a period after a servicing transfer, a payment sent on time to the old servicer cannot be treated as late by the new servicer. The old servicer must forward it or return it. Keep proof of payment and update autopay to the new servicer as soon as you can.
Last reviewed against the primary sources listed below.
Keep
- The goodbye and hello letters.
- Proof of payment.
- New account number.
Questions about loan sales
Will I get a late fee if I paid the old servicer?
Not during the federal protection period if the payment was on time.
How do I know who my servicer is?
Check the transfer notices or your latest statement.