Welcome to Cornerstone Servicing!

Your mortgage has been sold, and the servicing of your loan will transfer to Cornerstone Servicing effective July 1, 2023. Servicing transfers occur regularly in the mortgage industry. We are committed to providing the best possible experience as your mortgage transitions to us.

What exactly does loan servicing mean?

In general, you can expect a 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 your year-end 1098 Mortgage Interest Statement each year.

But to Cornerstone, loan servicing means so much more. We go the extra mile to make homeowners happy, combining our 35-year tradition of superior customer care with the best people and technologies. We offer an array of services and tools designed to make homeownership easy and convenient. We are happy to serve you!

• Rest assured; the terms of your mortgage loan will not change in connection with the transfer.

  Your avenues to manage your mortgage, make payments, and get help from customer service will change. Your loan number will also change. We will mail you a welcome letter in July with your new loan number and other important details.

  NEW WAYS TO MANAGE YOUR MORTGAGE

  • Web: Register here beginning July 7
  • Call Customer Care: 866.505.0510

  NEW WAYS TO PAY

  Mr. Cooper will no longer receive payments to your account beginning on your transfer date, and Cornerstone Servicing will begin processing your mortgage payments and handling all aspects of your account. A variety of new ways to pay will be available:

  • By phone: 866.505.0510
  • Online: Beginning July 7, log into our website and go to Payment.
  • Set up Autopay (recurring monthly ACH drafts) online or by phone
  • Set up budget drafts (recurring ACH drafts every 14 days) by phone
  • Mail a check with the coupon on your billing statement to: Cornerstone Servicing, PO Box 660217, Dallas, TX 75266-0217

  Please see our Payments FAQs for additional information.

  HOW TO CONTACT US

  • Call 866.505.0510
  • Email us
  • Log in to message with us (available beginning July 7)

  For more contact information, click here.

  What will not change?

  The terms of your loan will not change—including your interest rate and loan term.

  If your mortgage payments were set up for autopay (recurring monthly ACH drafts) with Mr. Cooper, these settings will transfer to Cornerstone Servicing. Please note, if your normal scheduled draft day falls within the first 9 days of the month, expect your July payment to draft on July 10. Your normal draft schedule will resume on July 10.

  
  

Beginning on your transfer date of July 1, 2023, you will need to:

• Begin contacting Cornerstone Servicing with inquiries regarding your mortgage. After June 30, Mr. Cooper will no longer be able to access your mortgage, receive payments, or otherwise assist with your account.
• Set up your Cornerstone Servicing account online beginning July 7. Click here to register online . See Getting Started Online below for instructions.
• Begin making your mortgage payments to Cornerstone Servicing.
• If your monthly mortgage payments are set up for autopay (recurring ACH drafts) through Mr. Cooper, this setting will transfer to Cornerstone Servicing—however please expect your July payment to draft on or after July 10 as your loan fully boards into our system.
• If you use a third-party payment service, notify them of Cornerstone’s new payment address: PO Box 660217, Dallas, TX 75266-0217.
• Confirm your contact preferences are up to date.

When and how can I access my account online?

You can set up your new Cornerstone Servicing account online beginning July 7, 2023. Our secure and easy-to-use website provides 24/7 access to your mortgage. You can review complete details of your loan, set up and manage autopay (recurring monthly 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 July 7:

1. Click here.
2. Click the links to view our user terms and privacy policy.
3. Click Register Your Account.
4. Enter your last name, SSN, Date of Birth and Email Address and click next.
5. Verify your information.
6. Gain 24/7 access to your mortgage!

I am having trouble registering. Who can help?

Our Customer Care team is happy to serve you! 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 Paperless Statements to receive emails when new statements are available. Go to Documents and then the Paperless Statement 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.
• Browse our Learning Center for helpful resources. Go to Education & Goals to find a range of topics and FAQs that will help you learn the ins and outs of your mortgage.

Can I still access my online account via the Mr. Cooper website?

Beginning July 1, you will have limited access to your prior online account with Mr. Cooper to view past billing statements and other loan documents provided by Mr. Cooper.

You will need to set up your Cornerstone Servicing account online to make mortgage payments; view up-to-date loan information such as your balance, payment history and escrow account information; access new billing statements; and otherwise manage your mortgage online.

When and how do I start making payments to Cornerstone Servicing?

Cornerstone Servicing began receiving your payments on your transfer date. We offer a variety of easy and convenient payment options—choose whichever is most convenient for you!

New ways to pay:

• By phone: 866.505.0510
• Online: Beginning July 7, log into our website and go to Payment.
• Set up Autopay (recurring monthly ACH drafts) online or by phone
• Set up budget drafts (recurring ACH drafts every 14 days) by phone
• Mail a check with the coupon on your billing statement to: Cornerstone Servicing, PO Box 660217, Dallas, TX 75266-0217

Do I have 60 days to make my first payment?

No, you need to continue making payments based on your loan payment due date.

What if I have already made my payment to Mr. Cooper?

Payments received by Mr. Cooper on or after your transfer date will be forwarded to Cornerstone Servicing and credited to your loan. During the 60-day period following your transfer date, a loan payment received by Mr. Cooper on or before its due date may not be treated as late by Cornerstone Servicing, and we will not charge a late fee.

When will I receive my first billing statement from you?

Your first billing statement from Cornerstone Servicing will be mailed to you and available online beginning in mid-July.

Where can I access prior billing statements from Mr. Cooper?

After June 30, you will have limited access to your prior online account with Mr. Cooper to download statements and other documents sent before your transfer date.

Can you send my statements by email instead of by mail?

Yes! You can sign up via your online account beginning July 7, or call Customer Care at 866.505.0510. Paperless Statements are secure and convenient, and you’ll have 24/7 access to view, download, and print statements online.

I have already scheduled a one-time payment with Mr. Cooper to draft on or after my transfer date. Will the payment still go through?

No, you will need to reschedule the draft with Cornerstone Servicing after your transfer date. You can make and schedule one-time payments online beginning July 7, 2023, or call Customer Care at 866.505.0510.

Will my autopay continue after my transfer date, or do I need to set it up again with Cornerstone Servicing?

Yes! If you are enrolled in autopay (recurring monthly ACH drafts) with Mr. Cooper, your payment settings will transfer to Cornerstone Servicing. Please note: If your normal scheduled draft day falls within the first 9 days of the month, expect your July payment to draft on July 10. Please see additional information below.

Will my autopay draft schedule change?

No. Your monthly mortgage payments will continue to draft on the same day of the month set up with Mr. Cooper—however your July payment may draft later than your normal scheduled date as your loan boards into our system. If your normal scheduled draft day falls within the first nine days of the month, expect your July payment to draft on July 10. Your normal autopay schedule will resume after July 10.

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

Beginning July 7, you can log into your Cornerstone Servicing account online to confirm or update your autopay settings. If you prefer to confirm or update your autopay settings by phone, our Customer Care team members will be happy to help—please call 866.505.0510.

What is autopay?

Autopay (recurring monthly ACH drafts) allows your monthly mortgage payments to draft automatically from your checking or savings account. You will no longer need to mail a check or remember to make your one-time payment online every month!

Setting up autopay is quick and easy, there is no fee to enroll, and you can select your recurring draft day. You also have the option to add additional principal to each monthly payment, which may help you own your home sooner and reduce the amount you pay in interest during your loan term.

To set up autopay online beginning July 7, log into your online account and go to Payment. You can also set up autopay by phone at 866.505.0510. We’ll be happy to help!

Can I break my monthly payments into two payments?

Yes! Once your loan transfers to Cornerstone Servicing and you have made your first payment on time, you will be eligible to set up budget drafts, meaning automatic ACH drafts from your checking or savings account will recur every 14 days. To set up budget drafts, please call Customer Care at 866.505.0510.

I make my payments through a third-party payment service. Do I need to change anything?

Yes, you need to notify them of our payment address below and your new loan number, which we will provide in the welcome letter we mail to you at the beginning of July. Our payments address is:

Will my escrow account transfer?

Yes. We will pay taxes and/or insurance from your escrow account when they are due, 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.

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

Yes, you need to contact your insurance company to update the mortgagee clause in your policy to the following address. 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.

Who is going to send my 2023 tax statement?

You will receive one statement from Mr. Cooper for interest paid on your mortgage through June 30, 2023, and a statement from Cornerstone Servicing for interest paid beginning July 1, 2023. Cornerstone provides these statements by January 31st each year.

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 July 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-July, 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 Cornerstone Servicing will be mailed and available to you online in mid-July.

As your mortgage partner, 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 Cornerstone Servicing. If you submit an application to Mr. Cooper in June, your application will be transferred to us effective July 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 Mr. Cooper, you will not need to reapply once your loan transfers to Cornerstone Servicing. 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 July 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 when you transfer to Cornerstone Servicing. We will contact you to talk about next steps.

Who can I contact once my mortgage transfers to Cornerstone Servicing?

If you have questions connected to your financial hardship and mortgage, please reach out to our Homeowner Assistance Team at 866.515.9015. We look forward to supporting you as your mortgage partner.