Mortgage Servicing Transfer FAQ
We’ll be working with the data file that we received from your prior servicer, which is essentially a snapshot of your account at the time your servicing was transferred. We test and confirm the loan data, and then upload that information into our computer systems for further testing.
Once the transfer of mortgage servicing process is complete, we post all payments as of the date of receipt and make your current account information available to you via a secure online account and through our Customer Service representatives.
It means that your lender has transferred the servicing of your mortgage – the right to collect payments – to another financial institution. A transfer of mortgage servicing doesn’t mean that you have a poor quality loan or credit history. It simply means that going forward, ditech will collect your payment, manage any escrow transactions, and provide all the customer service for your home loan.