Why did I receive a Notice of Servicing Transfer?
On 7/1/2022, Freedom Mortgage will start servicing your mortgage loan. This means that Supreme Lending will no longer collect or process your payments, administer your escrow, or service your loan. Nothing else about your mortgage loan will change.
Why is the servicing of my loan being transferred to Freedom Mortgage?
This is a common practice in the mortgage industry. Both Supreme Lending and Freedom Mortgage will work together to help ensure that you experience a seamless transfer process.
When do I start sending my payments to Freedom Mortgage?
On 7/1/2022 (Friday). Don’t forget that the next Monday (July 4, 2022) is a federal holiday.
Will my loan number change?
Yes. Freedom Mortgage will provide your new loan number in their “Welcome Letter.”
I am currently set up on ACH with Supreme Lending, will that continue?
No. ACH cannot transfer to Freedom Mortgage. Any ACH scheduled to run on or after 7/1/2022 will be cancelled by Supreme Lending. Unless you set up ACH with Freedom Mortgage, you must use another payment method to make your payment to Freedom Mortgage (i.e., mail a check).
What if I make payments through my bank’s online Bill Pay service?
You will need to take the necessary steps to tell your bank to change the payee address to Freedom Mortgage.
What if I have already mailed my payment to Supreme Lending?
No worries. Supreme Lending will forward any payments received on or after 7/1/2022 to Freedom Mortgage.
What will happen to my escrow account balance?
Your escrow account balance will be transferred to Freedom Mortgage. Effective 7/1/2022, Freedom Mortgage will administer your escrow account for taxes and homeowner’s or flood insurance.
What if I am on a COVID forbearance or loss mitigation plan?
If you have a plan with Supreme Lending, you will keep the same plan with Freedom Mortgage. We will send a copy of all your plan documents to Freedom Mortgage. If you have trouble in the future making your loan payments, we encourage you to reach out immediately to Freedom Mortgage to discuss your options.
Who will notify my insurance company of the change?
Supreme Lending will notify your insurance carrier of the change in loss payee to Freedom Mortgage.
Will Freedom Mortgage contact me?
Yes. Freedom Mortgage will send you a “Welcome Letter” with your new loan number, instructions for paying your mortgage, and other important information. Freedom Mortgage may also call you.
How do I contact Freedom Mortgage?
Call Freedom Mortgage at 855-690-5900, weekdays 8 am to 10 pm EST or Saturdays 9 am to 6 pm EST. Contact information will also be provided in your “Welcome Letter” from Freedom Mortgage.
Who will send me a Form 1098 Mortgage Interest Statement?
Supreme Lending will mail you a Form 1098 for 2022 by January 31, 2023. You will also receive a Form 1098 for 2022 from Freedom Mortgage.