12 C.F.R. § 1024 app 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:
_______________________________
You should do the following to maintain coverage:
_______________________________
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.
_______________________________
[NAME OF PRESENT SERVICER]
_______________________________
Date
[and] [or]
_______________________________
[NAME OF NEW SERVICER]
_______________________________
Date
12 C.F.R. 1024 app MS-2 to Part 1024