The person who receives a mortgage with the obligation to repay the loans principal and interest. A mortgage loan with initially low interest payments, but that requires one large payment due upon maturity (for example, at the end of five or seven years). FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. An increase in value, the opposite of depreciation. This benefit may change or end in the future. Discover and other lenders may use different inputs, such as FICO® Credit Scores, other credit scores and more information in credit decisions. Customers will see up to a year of recent scores online. Your score, key factors and other credit information are available on and cardmembers are also provided a score on statements. See /FICO about the availability of your score. This information is intended for and only provided to Primary account holders who have an available score. How can you pay off your mortgage early Before you choose a 30-year mortgage, make the 15-year mortgage part of your financial freedom plan to save thousands. †FICO® Credit Score Terms: Your FICO® Credit Score, key factors and other credit information are based on data from TransUnion® and may be different from other credit scores and other credit information provided by different bureaus. See lender's website for further details. **Compared lenders may provide a FICO® Credit Score or other credit score and other credit information. All loans currently being servicing by Benchmark associated with your SSN will display in the loan selector dropdown.FICO® Score, number of credit inquiries and other credit report information for free**,†. NOTE: A star indicates this is the primary loan in which the system will automatically default or that it is the only loan in the system. Using the drop down arrow you can view all loans or add a loan. From the Home Page Dashboard on the far right, the first loan registered will display the property address with the original loan amount (e.g. You will have one online account with the ability to switch between each loan. You can also assign a nickname to each loan (i.e. If you have multiple loans, you can add all loans to one profile during the registration process as long as all loans are currently serviced by Benchmark. No, you may use the same online account and is able to add the new loan number under the profile tab. If you have refinanced your current loan with Benchmark and we service the new loan do I need to set up a new online user name/password? Can I register online and access multiple loans?: (instructions on page 9 of Cenlar PDF) You’ll be able to set up your new Freedom Mortgage online account five to seven days after the effective date of the transfer. You’ll receive a welcome letter from Freedom Mortgage approximately 8 business days after the effective date of the transfer. Please see attached form which contains instructions for the request. This letter includes your new Freedom Mortgage loan number. 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. We are happy to send a copy of your transfer notice. If you do not receive this information, please email us at or call our Customer Service Department at 1-88, Monday – Friday from 8:30am to 5:00pm Central Time. The Notice of Servicing Transfer letter relating to your new Servicer is mailed to you in a Benchmark blue envelope, or you may receive an email that indicates the servicing transfer information. It only changes who is performing servicing activities to support your mortgage loan. Please know that a transfer of servicing does not change any terms of your mortgage loan. When that occurs, you will receive a Notice of Servicing Transfer from your current servicer, prior to the transfer of your servicing, as well as a similar notice from your new servicer after the transfer, or the notices may be combined into a single notice of servicing transfer sent prior to the servicing transfer date. Collectively, these are mortgage-servicing activities performed by your mortgage servicer.įrom time to time, mortgage loans may transfer from one mortgage servicer to another. Other activities may include customer service support, the payment of taxes and insurance premiums from customer escrow accounts, performing payment adjustments on adjustable rate mortgage loans, providing assistance with payment options during difficult times, and many other activities. Many activities must occur during the life of a mortgage loan, such as the application of monthly mortgage payments received from customers. What Is A Servicing Transfer? TRANSFERS OF SERVICING ARE COMMON WITH MORTGAGE LOANS.
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