He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win. 2022 Mortgage Scams: How To Avoid Them | Rocket Mortgage Frequently Asked Questions | SN Servicing Corporation I was just speaking to a friend of mine who just had her mortgage loan switched from Wells Fargo Home Morgage to Specialized Loan Servicing. No, not according to them, they say they are just servicing the loan, and I have to send in a "Qualified Information Request" to find out who the loan holder is. Understand that the process of transferring servicing rights is challenging logistically. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. After lending managers determine the borrowers ability to successfully assume the loan, the bank exercises its professional judgement to either approve or deny the loan. Lets take a look. Not sure what is going on? In other cases, the holder sells the right to service the loan to a different company. How Often Should You Apply for New Credit Cards? -Mark the date of your transfer on a calendar, and start tracking your payments from that point forward. Maintaining bookkeeping records. They are crooks! They won't stop until they take your house. W hen you get a mortgage, you may think the lender will hold and service your loan until you pay it off or sell your home. Under TILA, you have the right to: SLS is not a collection agency, but they sometimes operate in a similar capacity. If you have received both letters or have verified the mortgage loan transfer with your old servicer, be sure to send all payments from that point on to your new servicer. After receipt of a notice of error, SLS will not furnish adverse information to a credit reporting agency regarding any payment that is the subject of a notice of error while your inquiry is being reviewed. Both notices must include: the date the current servicer will stop accepting your mortgage payments, the date the new servicer will begin accepting your mortgage payments, contact info for the current and new mortgage servicer, whether you can continue any optional insurance, such as credit life or disability insurance; what action you must take to maintain coverage; and whether the insurance terms will change.

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