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Permalink Reply by Wendy Rulnick on July 18, 2012 at 5:24pm

Michael, You'll either need the new loan number or full social when you call them. Your seller may have a letter that the loan was transferred with the new loan number. Give the new server a couple of days or more to get the file set up in their system. They might also want a new authorization for you.

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Permalink Reply by Smitty on July 19, 2012 at 2:09am

It SHOULD also be at the registry of deeds, however, I have found it's not always there.  If this happens, I have the seller call the new servicer with their social and get the new loan number and then we send in a LOA.

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Permalink Reply by Jim Schneider on July 19, 2012 at 3:51am

The new servicer and the new loan number is usually mailed to the owners, isn't this how you found out about the transfer? Unfortunately in my experience, the status, is that you not only go back two square one (the new lender starts the process over) you now have a few more obsticales. I've seen it take a month before the new servicer could actually do anything, because they were waiting for the files to come over. Also, frequently when the new investor bought the pool they buy a blanket MI policy to cover the pool, so you are now dealing with an MI company.

 

Expect this one is going to get very rocky.

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