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What does a loan servicer do?

In general, you can expect a loan servicer to:

• Send monthly mortgage statements.
• Apply your mortgage payments in a timely manner.
• Manage your escrow account, if you have one—including paying your tax and/or insurance bills on your behalf when they are due and reviewing your account at least annually.
• Provide year-end statements such as the 1098 Mortgage Interest Statement each year.

But to us, loan servicing means so much more. We'll go the extra mile to keep you happy and help you achieve your homeownership goals. We are eager to serve you!

After your transfer date of August 1, 2024, you need to:

• Begin contacting Cornerstone Servicing with inquiries regarding your mortgage. After July 31, your current servicer will no longer be able to access your mortgage, receive payments, or otherwise assist with your loan.
  
  
• Set up your new online account beginning August 5: See Getting Started Online FAQs below for details and step-by-step instructions, and click here to register beginning August 5.
  
  
• Begin using our New Ways to Pay.
  
  
• If you have automatic payments set up with our prior servicing center, click here for important information.
  
  
• If you use a third-party bill pay service, update your payment settings to ensure your payment is sent to Cornerstone Servicing as follows:

Cornerstone Servicing
PO Box 660217
Dallas, TX 75266-0217.

• Confirm your contact preferences are up to date.

Have my autopay settings continued after my transfer date, or do I need to set it up again?

If your loan is set up for monthly automatic payments with our prior servicing center, meaning one recurring ACH draft each month, these payment settings are transferring to our new servicing center. Please note, if your payments are normally scheduled to draft on or before the 6th day of each month, expect your August payment to occur on August8th. It will not be considered late. Your normal draft schedule will resume after August 8th. 

Automatic payments set up to draft more than once per month are not transferring to our new servicing center - for example, Flex Drafts (1st and 15th of each month), biweekly, weekly, etc. To reestablish automatic payments with Cornerstone Servicing, please contact us for information and eligibility requirements. We'll be eager to help! Information is also available here.

Will my autopay draft schedule change?

While your August payment may draft later than usual due to the transfer, your existing automatic payment schedule will not change after the transfer.

If your monthly automatic payment is scheduled to draft on or before the 6th day of each month, please expect to see that your August payment has posted by August 8th. It will not be considered late.

Your normal recurring monthly draft schedule will resume after August 8th. 

How can I review and change my automatic payment settings after the transfer?

Beginning August 5, you can log into your new online account to confirm or update your autopay settings. If you prefer to do this by phone, your new support team will be happy to help—please contact us. 

When and how can I access my mortgage online?

You can set up your new online account beginning August 5. Our secure and easy-to-use website and LoanNav app provide 24/7 access to your mortgage, wherever you go.

You can see your new loan number, review complete details of your loan, set up and manage automatic payments (recurring monthly or biweekly ACH drafts), quickly make or schedule one-time payments, access future statements and other documents, opt in for paperless statements, see your payment history, review escrow account activity, message with our team members, and more!

Here’s how to register your account online beginning August 5:

1. Click here or download our LoanNav app.
2. Click Register Your Account.
3. Enter your last name, SSN and email address, and click next.
4. Verify your information.
5. Click the links to view our user terms and privacy policy.
6. Gain 24/7 access!

Do I need my new loan number to set up my online account?

No, you do not need your new loan number to create your new online account. You will simply need to provide your last name, SSN, and email address.  

Is the website mobile-friendly?

While you can access the website from your mobile browser, our LoanNav app provides an enhanced experience on Apple and Android mobile devices. The app is free and easy to use, with the same features and functionality as the website. Download LoanNav now!

I am having trouble registering. Who can help?

We are happy to help! Please call 866.505.0510.

First, make sure the internet browser you are using is compatible. The following browsers provide the best experience:

• Microsoft Edge
• Firefox Version 27 or higher
• Chrome Version 38 or higher
• Safari – Desktop Version 7 and higher
• Safari – Mobile Version 5 and higher

What should I do the first time I log into my account?

Once you’re logged into your account, you can:

• Confirm your communication preferences. Go to My Loan, then the Loan information section to see your mailing address, email address, and phone numbers. To update your preferences, click Edit.
• Explore our online payment options. Go to Payment to make or schedule payments, check existing autopay settings, or set up Autopay (recurring monthly ACH drafts).
• Find your Document Library, where you’ll be able to see future billing statements and more. Click or tap Documents.
• Enroll for Electronic Statements to stop receiving paper copies of your statements by mail. You will receive an email from us each time a new statement is available online via our website and app. To opt in, log in and go to Documents and then scroll to the Manage Delivery Preferences section.
• Explore ways to own your home sooner. Go to Education & Goals.
• See an overview of your loan, including balance, interest rate, payoff date, and more. Go to My Loan in the main menu.

Can I still access my old online account?

After July 31, 2024, you should have limited access to your prior online account for one year to view past billing statements and other loan documents sent by our prior servicing center.

You will need to set up your new online account beginning August 5 in order to: make or schedule online payments; view up-to-date loan information such as your balance, payment history, and escrow account information; access new billing statements; and more.

Will my escrow account transfer?

Yes. Effective August 1, we will pay your tax and/or insurance bills from your escrow account on your behalf when they are due. 

As your mortgage servicer, we will review your account at least annually and inform you of any necessary changes to your payment in the event your tax and/or insurance expenses change.

Beginning August 5, you will be able to view your up-to-date escrow account details on our secure website and app anytime.

Do I need to tell my insurance company about the transfer?

Your insurance company will be notified to update the mortgagee clause in your policy to the address below. The mortgagee clause lets your insurance provider know where to send premium notices, bills, funds in the event of a claim, etc.

I just received a property tax bill and have an escrow account. What do I do next?

Simply mail or fax your tax bill to the address below and include your loan number on the bill.

I am behind on my mortgage payments. What should I expect after the transfer?

If you are experiencing financial hardship, we’re here to help. Here’s a summary of what to expect beginning on your transfer date:

• Our Homeowner Assistance Team will gain full access to your mortgage by August 10, and at that time we’ll be able to fully assist with and answer questions specific to your mortgage.
  
  
• Soon after your transfer date, we may mail a Validation of Debt letter to your mailing address on file. We are required by law to mail this letter, which will include the amount owed on your loan.
  
  
• In mid-August, a member of our Homeowner Assistance Team will call you by phone to welcome you and discuss mortgage assistance options available, if applicable. If you are already on or have applied for mortgage assistance, we will review the status of your application and details with you.
  
  
• Your first billing statement from our new servicing center will be mailed and available to you online before your September payment is due.

We are eager to be a resource for you. Please contact us after your transfer date and any time you have questions moving forward.

I was about to apply for mortgage assistance. Should I wait until after the transfer?

No, you do not need to wait to apply for mortgage assistance due to your loan transferring to our new servicing center. If you submit an application in July, your application will be transferred to us effective August 1.

I already started an application for mortgage assistance. Will I need to start over?

No. If you are already in the process of applying for mortgage assistance with our prior servicing center, you will not need to reapply once your loan transfers. We will contact you in July to welcome you and review the details of your application.

If you need to send documents or have questions about the status of your application, please contact our Homeowner Assistance Team beginning August 10. This will allow time for us to verify your loan and application details.

Will my current mortgage assistance plan change when my loan transfers?

If you have already been approved for or are on an active plan – such as a forbearance (including pandemic or natural disaster forbearance), repayment plan, or loan modification trial – the terms will not change due to the transfer. We will contact you to talk about next steps.

Who can I contact after my loan transfers?

If you have questions connected to your financial hardship and mortgage, please reach out to our Homeowner Assistance Team by calling 866.515.9015 or emailing us. We look forward to supporting you.