Welcome to your mortgage’s new home
As your new mortgage servicer, Guild is dedicated to ensuring a seamless transition to our services. Here’s what you can look forward to, along with answers to some common questions to help make this change smooth and straightforward.
Welcome to your mortgage’s new home
As your new mortgage servicer, Guild is dedicated to ensuring a seamless transition to our services. Here’s what you can look forward to, along with answers to some common questions to help make this change smooth and straightforward.
Navigating service transfers to Guild
Find answers to your questions about service transfers and understand your mortgage servicing rights
The servicing of your mortgage loan is transferring to Guild Mortgage. This means that Guild will process your payments, send monthly mortgage and year-end tax statements, notify you about any account updates and, if applicable, manage your escrow account.
Your account was transferred because your previous servicer sold your loan to us, your new servicer. Servicing transfers are a common practice in the mortgage industry. We’ll work to make this transition as seamless as possible for you.
You should receive a transfer information letter. In it, you’ll find the last date your current mortgage servicer will accept payment on your home loan and the date the transfer to Guild will take effect.
No, this servicing transfer won’t affect the terms of your existing loan, including your interest rate, your payment due date and the length of your loan.
Yes, Guild will send you a letter no later than 15 days after the transfer date with your new loan number. You’ll also see your new loan number on your monthly mortgage statements after the transfer.
Want it sooner? Once your loan is fully onboarded, sign in to your online account to view your statement as soon as it’s available.
Your mortgage’s monthly, escrow, and year-end statements will be available for the allowable timeframe through your current servicer. Please reach out to your current servicer to confirm the timeframe. After the transfer date, you won’t have access to the rest of your mortgage account information there. We recommend you print or save any account information you think you may need before the transfer date shown in your letter. Any other accounts you have with your current servicer, such as checking and credit card(s), will not be affected by the transfer of your mortgage servicing.
If you received mortgage assistance from your prior servicer, that will be reflected on your Guild servicing loan. If you were in the process of being reviewed for mortgage assistance with your prior servicer, or your application was completed but your workout was not finalized, please contact us after your loan has transferred to discuss your individual situation and options at 800.365.4884 Monday-Friday 5 am-5 pm PT.
Service transfer terminology
Familiarize yourself with common terms to better understand your loan services
When your lender transfers servicing, they hand over the management of your loan to a new mortgage or servicing company. For the borrower, all this means is a new institution will be collecting your payments, handling your escrow accounts, dealing with any insurance or tax matters and answering your questions.
This transaction will not impact your initial mortgage agreement in any way. Your loan amount, interest rate, contractual payment obligation and payment schedule will remain the same. The only change as a result of this transfer will be where you send your monthly mortgage payment.
This transfer could take place at any time during the life of your loan. In some cases, loan servicing can be transferred right after closing—even before a payment is made. Under the Real Estate Settlement Procedures Act (RESPA), lenders are typically required to provide certain disclosures during the mortgage process. This includes a Mortgage Servicing Disclosure Statement, which explains whether the lender intends to service the loan or transfer servicing to another company.
This is the formal documentation you will receive when the servicing of your loan is being transferred. You should receive:
- A letter from your current servicer, which should be provided at least 15 days before the effective date of the transfer, commonly referred to as a “goodbye” letter.
- A letter from your new servicer, which should be provided within 15 days of the effective date of the transfer, commonly referred to as a “welcome” letter.
A loan servicing transfer scam is a type of mortgage fraud where scammers pose as a new loan servicer to collect your monthly payments fraudulently. These scammers may send you a fake welcome letter, claiming that your loan servicing has been transferred to them.
To be vigilant and avoid falling victim to such scams, it’s crucial to:
- Check for both sides of the servicing equation: In rare instances, borrowers may receive a single letter indicating a transfer of loan servicing. This letter should include both a “goodbye” from your current servicer and a “welcome” from your new servicer.
- Beware of single welcome letters: If you only receive a welcome letter, it could be a scam. Legitimate notices should always include information from both the current and new servicer.
- Verify with your current servicer: Upon receiving any notice of transfer, always double-check with your current servicer to confirm the legitimacy of the transfer. This step ensures that your payments are going to the correct entity and protects you from fraud.
The switch between loan servicers should be relatively smooth. But in case of any confusion, homeowners are granted a 60-day grace period by law. For 60 days from the date your loan servicing transfers, we will not charge any late fees and will suspend credit reporting. This protects mortgage holders who may send their mortgage payments to their old servicers accidentally. It also serves as a cushion for borrowers who need to reroute automatic electronic payments to their new servicer’s address.
Understanding the payment process
Learn how to make payments during the transfer period
If you make your next payment before the transfer date shown in the letter your current servicer sent you, you’ll pay them. After the transfer date, your current mortgage servicer won’t be able to take your payment and you’ll need to send it to Guild. Watch for specific information to come on how to make your payment.
No, you must register or login to MyAccount to establish a new automatic payment agreement with Guild. Set up now at myaccount.guildmortgage.com/
Yes. Once your loan is onboarded and you have full online access, you can easily opt in to paperless statements from your account profile. Once you go paperless, we’ll notify you by email whenever you have a new document ready to view. All Guild year end and mortgage statements will be viewable for up for 4 years. Paperless is the fastest, easiest and most secure way to receive important communications about your home loan. Enroll in paperless statements here.
We will send you your first statement within 30 days of your transfer date. Please contact us if you have not received a statement by then.
Want it sooner? Once your loan is fully onboarded, sign in to your online account to view your statement as soon as it’s available.
If your prior servicer received your payment after your transfer date, they will forward it to us and we’ll post it to your account once received. Your prior servicer will continue to forward payments to us for 60 days from your transfer date. Also, we will not charge any late fees and will suspend credit reporting for 60 days from your transfer date.
All payments will be posted to your account once received. We’ll credit you with making your payment on the day we receive it. See below for payment cutoff times:
- 3 pm PT cutoff time for Debit Card Transactions
- 5 pm PT cutoff Time For ACH payments (via Speedpay, 1xACH online payments, BillPay payments, mailed checks, money orders, Western Union Quick Collect)
You can mail your monthly payment using a check or money order payable to “Guild Mortgage Company.” Please be sure to include your new Guild Mortgage loan number on it. Mail to:
- Guild Mortgage Company
- PO Box 85046
- San Diego, CA 92186
You can request a payoff quote on our website or by mailing a short letter stating your request. The letter should include your loan number, the address of the property and all your most up-to-date contact information. In your letter, please be sure to specify the address to which we should mail the quote. Send it to:
- Guild Mortgage Company
- Attn: Payoff Department
- PO Box 85304
- San Diego, CA 92186
Insurance and tax FAQs
Get clear answers about how a service transfer will affect your insurance and tax information
You’ll receive two year-end tax statements (IRS Form 1098) for this year. Your current servicer’s year-end statement will show the mortgage interest and taxes paid from January 1 this year up to the transfer date. Guild will send your tax statement for the remainder of the year. IRS forms will be sent by January 31st of the following year.
Yes. If you have an escrow account, notify your insurance carrier that your loan was transferred and you need to change the mortgagee clause. The mortgagee clause for Guild Mortgage Company is:
- Guild Mortgage Company, LLC
- ISAOA/ATIMA
- P.O. Box 818009
- Cleveland, OH 44181-9600
If you had an escrow account with your prior servicer to pay your property tax and insurance, it will automatically transfer to Guild Mortgage Company, and we will continue to make your tax and insurance payments on time.
No. Only insurance details related to property taxes and homeowners insurance were included in your transfer. Please contact your prior servicer to learn what you need to do to maintain your optional insurance coverage.
If you’ve been approved for an exemption or have received an adjusted tax bill during this service transfer, please send in your approved exemption or adjustment paperwork showing the estimated dollar amount that reflects the exemption or adjusted tax amount to: [email protected].