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 😊
You can watch the full video version on our YouTube as well...
Be sure to share this episode 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!