Top Question:

Could my payment amount change as a direct result of the mortgage servicing transfer?

Best Answer:

No. Your regular monthly payment consists of the principal, interest and escrow, when applicable. If your payment changes, you’ll be notified in advance. An updated payment amount could result from a change in your escrow analysis or an interest rate adjustment, both of which are governed by the terms of your Note. You’ll be notified of the change with an Escrow Account Disclosure or Mortgage Interest Rate and Payment Change Notice along with the corresponding monthly mortgage statement.