After your mortgage closes, the company you make payments to may be your mortgage servicer. Sometimes the lender and servicer are the same company, but not always.
What a mortgage servicer does
- Collects monthly payments
- Manages escrow accounts, if applicable
- Sends mortgage statements
- Provides payoff information
- Handles certain customer service requests
- Processes payment changes related to taxes or insurance
- Provides tax forms and account records
Lender vs. servicer
The lender provides or funds the mortgage. The servicer manages the loan after closing. In some cases, your loan may be transferred to a new servicer, even though the loan terms remain the same.
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Why servicing matters
Your servicer is the company you contact for payment questions, escrow questions, payoff statements, tax forms, and certain account updates. Keeping your servicer information current helps avoid missed payments or confusion.
What to do if your servicer changes
- Read all transfer notices carefully
- Confirm the new payment address
- Update autopay information if needed
- Keep records of payments
- Watch for effective dates
- Contact the old or new servicer if anything seems unclear
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Get StartedMortgage servicing rules, transfer timing, payment handling, and borrower rights may vary. Contact your servicer for account-specific questions.