This week we transferred servicing of a small amount of loans to another company. We proactively reached out to our borrowers but one of the questions I was surprised by was “Did I do something wrong?”
Mortgage servicing is transferred to different companies all the time in the lending world.
I go into some detail about why a lender may transfer servicing to another lender in this video. I know it’s annoying because the borrower needs to change their payments to a different company but rest assured, it has nothing to do with the borrower. It’s not you, it’s them 😊
Be sure to share this video with any of your clients that may be upset their mortgage servicer was changed. Hopefully it helps them understand a little more.
If we can ever help, please let me know.
Have a rate day!
