12 C.F.R. § 1024 app MS-2 to Part 1024

Current through September 30, 2024
Appendix MS-2 to Part 1024 - Appendix MS-2 to Part 1024

Notice of Servicing Transfer

The servicing of your mortgage loan is being transferred, effective [Date]. This means that after this date, a new servicer will be collecting your mortgage loan payments from you. Nothing else about your mortgage loan will change.

[Name of present servicer] is now collecting your payments. [Name of present servicer] will stop accepting payments received from you after [Date].

[Name of new servicer] will collect your payments going forward. Your new servicer will start accepting payments received from you on [Date].

SEND ALL PAYMENTS DUE ON OR AFTER [DATE] TO [NAME OF NEW SERVICER] AT THIS ADDRESS: [NEW SERVICER ADDRESS].

If you have any questions for either your present servicer, [Name of present servicer] or your new servicer [Name of new servicer], about your mortgage loan or this transfer, please contact them using the information below:

Current Servicer:New Servicer:
[Name of present servicer][Name of new servicer]
[Individual or Department][Individual or Department]
[Telephone Number][Telephone Number]
[Address][Address]

[Use this paragraph if appropriate; otherwise omit.] Important note about insurance: If you have mortgage life or disability insurance or any other type of optional insurance, the transfer of servicing rights may affect your insurance in the following way:

_______________________________

You should do the following to maintain coverage:

_______________________________

Under Federal law, during the 60-day period following the effective date of the transfer of the loan servicing, a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you.

_______________________________

[NAME OF PRESENT SERVICER]

_______________________________

Date

[and] [or]

_______________________________

[NAME OF NEW SERVICER]

_______________________________

Date

12 C.F.R. 1024 app MS-2 to Part 1024

78 FR 10886, Feb. 14, 2013