Your first mortgage payment and what else to expect after closing
After your loan closes, you might be thinking, “Now what?” Here are a few things you should know:
1. Get ready to meet your new servicer
Generally, within 30-60 days after your closing, we will identify the servicing company who you will be making future payments to. At that time, a “Goodbye” letter will be mailed to you with information about your servicer and where to mail your payments. The same information will also be provided to you by your new servicer.
2. When is your first mortgage payment due?
You don't pay your first mortgage payment at closing, but that's when you should learn of its due date. In most cases, it's due the first of the month after 30 days have passed since closing. So if you close on February 14, your first payment would be April 1.
While we work to finalize the servicing transfer—and until you receive your “Goodbye” letter—
Please continue to make payments directly to us.
3. Your additional mortgage payments after closing
For your convenience, please utilize the payment slips in your closing packet which provide details regarding the payment amount, when it’s due and where to send it.
4. We'll forward those early mortgage payments on your behalf
If you have sent a payment to us and receive a notification that your servicing has been transferred, there is no need to cancel your check or send a new payment. We will forward it to the new servicer on your behalf.
5. Have questions about your first mortgage payment or our relationship with your new servicer?
If you have any questions about payments or the servicing of your loan, please contact our servicing group from 8 am – 7 pm CST at (800) 263-4159. Or you can send an email to [email protected].