A mortgage is likely the largest investment you will make in your lifetime, so it is important to make your mortgage payments on time. Churchill Mortgage wants to be your mortgage advisor for life, and to help guide you through each home purchase or refinance until you are ultimately debt-free.
Sometimes your mortgage lender is your servicer and other times they are not. A loan servicer is a company that handles the ongoing management and monthly payments of your loan.We do service some of our loans at Churchill Mortgage, but it is not unusual for lenders to “sell” or transfer the rights to service your mortgage to another company. If this happens, you will receive a letter in the mail with information about your new servicer and how to make your first payment once the loan has been transferred.
If your loan is transferred, this just means you will pay your monthly payment to a different mortgage servicer. It does not change who you work with at Churchill Mortgage.
Don’t panic, it doesn’t really matter! Your interest rate, loan amount, and type of loan will not change based on who is servicing your home loan. The payment amount won’t change and if you have credit history, it will not be impacted either. The only thing changing is where you send your monthly mortgage payment.
Yes, your home loan can change hands more than once. This can be confusing to homeowners. It is not a reflection on the homeowner. Mortgages are bought and sold all the time so companies can free up capital to be able to provide more loans.
A: Go to this web address to register your account: https://churchillmortgage.yourmortgageonline.com/register
A: Your account number is typically found in your transfer notification letter or on the first page of your monthly mortgage statement.
A: A payoff statement is a document that shows your outstanding balance on your mortgage, how many payment you’ve made, and the interest rate in your home loan.
A: If your loan was transferred, you will receive tax statement from both your previous servicer and your current servicers. If you have questions about your prior servicer’s tax statement, please contact them.
A: If your loan is serviced by Churchill Servicing and you want to make biweekly payments instead of monthly payments, you will need to download the Flex Drafting Agreement from the link below. Complete the form and return it to your lender via email or USPS.
*Not all lenders offer biweekly payment plans.
*There is a requirement for biweekly payment plans to be pre-paid by one month.