Your mortgage

After closing, the loan is initially serviced by Select Portfolio Servicing (SPS). The servicer is the company responsible for collecting payments and managing the loan after funding.

If servicing is later transferred, you will generally receive a Goodbye Letter from the current servicer and a welcome letter from the new servicer with updated payment and contact information.

If you are unsure who the current servicer is, check recent mail or email communications. If you still need help, Lendz can assist in identifying the current servicer.

Mortgage payments are not made directly to Lendz Financial. Payments must be made to the loan’s current servicer.

The first payment amount and due date are listed in their closing documents. The loan typically fully boards to SPS within 1 to 2 weeks from funding. Once the loan is fully boarded, you can typically create an online account through the servicer’s website to make payments electronically.

If you are unsure where to send payment, review recent servicing notices or contact Lendz for help confirming the correct servicer.

For ACH setup, updates, or status questions, you should contact your current servicer directly or log into their online servicing account, if available.

If ACH paperwork was completed at closing, that setup is generally expected to transfer when servicing transfers. That said, some servicers may still require additional verification before automatic payments are reactivated.

Cconfirm directly with the current servicer whether ACH is active, when drafts will begin, and whether any additional action is needed.

After closing, the loan goes through a setup period and is initially serviced by Select Portfolio Servicing (SPS). During this transition, the loan may later transfer to a new servicer. If that happens, you will receive a notification with updated servicing and payment instructions.

The first payment is usually due 30 to 60 days after closing, depending on the closing date. The exact due date can be found on the amortization page in the closing documents.

Once the loan is fully set up, you can create an online account with the servicer. If questions come up during the transition, Lendz can help point the borrower in the right direction.

If monthly payment includes escrow, the current servicer generally handles payment of property taxes and insurance.

If you receive a tax bill or insurance bill directly, they should contact the current servicer to confirm how it should be handled. Insurance claim checks and escrow removal requests are also managed by the current servicer and may vary based on the loan terms and that servicer’s guidelines.