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:
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You should do the following to maintain coverage:
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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.
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[NAME OF PRESENT SERVICER]
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Date
[and] [or]
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[NAME OF NEW SERVICER]
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Date