Frequently Asked Questions

1. My loan was recently transferred to you, but I have not received my monthly statement. What should I do?
2. I mailed my payment to the prior servicer before I received notification that my loan had been transferred. Will my account be credited?
3. Who do I contact now when I have questions or problems?

4. Where do I mail my payments?
5. How can I make my payment without a statement?
6. Can I make a payment online?
7. When do I receive credit for my payment?
8. Why did my payment increase?
9. When is my payment considered late?
10. What if I cannot make a payment?
11. If I am having financial problems, can SN Servicing Corporation help?

12. How can I get an update on the status of my loan?
13. How can I get a payoff balance?
14. May I send extra money to help payoff my loan?
15. If I plan to payoff my loan, do I still need to send a regular payment?
16. Can SN Servicing Corporation refinance my loan?
17. When can I expect a refund from my escrow account, once my loan has been paid in full?
18. How soon will my lien be released after payoff?

19. Do I need homeowner's insurance?
20. How do I update my homeowner’s insurance information?
21. What is an escrow/impound account?
22. Who pays my taxes and/or insurance?
23. How can I get a copy of my year-end tax information?

24. How can I change my contact information?
25. How can I obtain copies of my loan documents if I misplace my originals?

1. My loan was recently transferred to you, but I have not received my monthly statement. What should I do?
   You can still make payments prior to receiving a billing statement. In your "Welcome Letter," we have included your new loan number and the correct mailing address for your monthly payments. Just write your loan number on your check and mail it to the address indicated in your "Welcome Letter."

2. I mailed my payment to the prior servicer before I received notification that my loan had been transferred. Will my account be credited?
   If you mailed your payment to the prior servicer, please be assured that it will be endorsed and forwarded to SN Servicing Corporation for proper credit to your account. If you receive a notice from us that it has not been received, please contact us immediately. Your Customer Service Representative will work with you to either confirm the payment you sent or make arrangements to resubmit the payment to us.

3. Whom do I contact now when I have questions or problems?
   Your Welcome Letter provided you with contact information for your personal Asset Manager who is available to help you with any questions or problems you may have.
   
   If you no longer have your Welcome Letter, please contact our Customer Service department at (800) 603-0836.

4. Where do I mail my payments?
   Please send your payment to the address provided on your Billing Statement. If you cannot locate your billing statement or have not received one, please call our Customer Service department at (800) 603-0836 to find out the appropriate mailing address for your loan.
   
   You may also request a copy of your current billing statement in the My Loan Info area of our Web site. To access this area, you must first register, then just login and select “Request Billing Statement.”

5. How can I make my payment without a statement?
   We can process your payment without your statement, but it is important that you write the correct new loan number on your check. If you do not know the mailing address, please call our Customer Service department at (800) 603-0836.
   
   You may also request a copy of your current billing statement in the My Loan Info area of our Web site. To access this area, you must first register, then just login and select “Request Billing Statement.”

6. Can I make a payment online?
   Yes, you can make a payment online, any time of the day or night. To make an online payment, you must first register to access our password-protected area, My Loan Info. After you register, you just login to My Loan Info and select “Make Payment Online.”

7. When do I receive credit for my payment?
   If you mail your payment, credit for your payment will be given on the day it is received at our lockbox. Please allow sufficient time for the payment to reach us ahead of the due date disclosed on your Note and monthly statement.
   
   If you pay online, your account will be credited within 24-72 hours of payment, excluding weekends and holidays.

8. Why did my payment increase?
   If your Note provides for an Adjustable Rate Mortgage (ARM), interest rates and the corresponding payment amounts will change in accordance with the terms of the Note. Additionally, there may have been a change in your escrow payment to cover changes in property taxes and/or insurance.

9. When is my payment considered late?
   Late charges are assessed in accordance with your Note, if payment is not received within the specified number of grace days. It is always a good idea to keep records of payments made including canceled checks or bank account statements.

10. What if I cannot make a payment?
    It is important that we know if you are having temporary financial difficulties. If you cannot make a payment, please contact your personal Asset Manager to discuss how we can best assist you.

11. If I am having financial problems, can SN Servicing Corporation help?
    Yes. We know how important your home is to you, and we recognize that sometimes bad things happen to good people. Don't hesitate to give us a call. We strive to establish strong, long-term relationships with our borrowers and are here to help.

12. How can I get an update on the status of my loan?
    You may request a loan/payment status, including outstanding balance and payment history, online in our My Loan Info area. To access this password-protected area, you must first register, then just login and select “Request Loan/Payment Status.”
    
    Our turnaround time is typically 10 business days from the time your request is made.

13. How can I get a payoff balance?
    You may request a loan payoff statement online in our My Loan Info area. To access this password-protected area, you must first register, then just login and select “Order Payoff Quote.”
    
    Our turnaround time is typically 10 business days or within any applicable state mandated timeframes. If your loan was recently transferred, a payoff quote may take additional time as we need to obtain the necessary loan documents from the prior servicer.

14. May I send extra money to help payoff my loan?
    Yes. Please note that any amount sent over and above the regular payment will be applied first to any outstanding charges or delinquent payments, and then to principal. Please refer to your Note for specific information on partial prepayments and to verify if there are any prepayment penalties.

15. If I plan to payoff my loan, do I still need to send a regular payment?
    Yes. If the payoff of your loan will occur after your regular payment due date, then you must still submit your regular monthly payment in order to avoid any late charges or penalties.

16. Can SN Servicing Corporation refinance my loan?
    Unfortunately, we cannot help you refinance your loan. We are a loan servicing organization and do not originate loans.

17. When can I expect a refund from my escrow account, once my loan has been paid in full?
    Any escrow refund or other overpayment is mailed 15 days after your loan has been paid in full. Please be sure to provide us with any new mailing address information to ensure receipt of the refund.

18. How soon will my lien be released after payoff?
    Normal processing time is within 90 days of payoff, but times may vary depending on circumstances.

19. Do I need homeowner's insurance?
    For your protection as well as ours, insurance is required on your property. As noted in your Welcome Letter, the conditions of your mortgage require you to maintain a hazard insurance policy and provide us with evidence of coverage. If you have not contacted your insurance representative and asked them to fax over proof of your insurance coverage, please do so immediately.
    
    The policy must list the correct mortgagee clause information, which includes our address and fax number as shown below, the effective date, and coverage amounts.
    
    The mortgagee clause must read as follows:
    
         SN Servicing Corp
         ISAOA ATIMA
         P.O. Box 35
         Eureka, CA 95502
    
    FAX to SN SERVICING CORPORATION (707) 443-1562
    
    If we do not receive evidence of acceptable hazard insurance, SN Servicing Corporation has the right to secure insurance coverage on your behalf. This replacement insurance only covers the "unpaid principal balance" of your loan. The coverage is limited to physical damage to the structure. Supplemental coverage, such as liability coverage or personal contents are NOT included in this policy.
    
    Please be aware that the premiums and the deductible may be higher than on a private policy.

20. How do I update my homeowner’s insurance information?
    You may easily and quickly update your homeowner’s insurance information online in the My Loan Info area. To access this password-protected area, you must first register, then just login and select “Update Homeowners Insurance Info.”

21. What is an escrow/impound account?
    An escrow account is an account set up by a servicer or lender into which the borrower pays money to cover property taxes and/or homeowners' insurance.
    
    If you had an escrow account with your prior lender, please be certain that any statement received contains an escrow amount in accordance with your experience and expectations and notify us immediately of any discrepancies.

22. Who pays my taxes and/or insurance?
    If you do not have an escrow account (see Q.18), you are responsible for paying your taxes and/or insurance.

23. How can I get a copy of my year-end tax information?
    You may request a copy of your year-end tax information online in our My Loan Info area. To access this password-protected area, you must first register, then just login and select “Request Year-End Tax Info.”
    
    Our turnaround time is typically 10 business days from the time your request is made.

24. How can I change my contact information?
    You may update your personal contact information, including your address, phone number and email address, in the My Loan Info area of our Web site. To access this password-protected area, you must first register, then just login and select “Updated Personal Info.”

25. How can I obtain copies of my loan documents if I misplace my originals?
    Please contact Customer Service or your personal Asset Manager to request new copies of your loan documents.