| |
|
If you're like most of us, your home is the most important possession you own.
At SN Servicing Corporation, we know how important it is that your home loan be
handled properly and efficiently. Following is some helpful information about
payments, escrow and insurance. You may also want to visit our
Frequently Asked Questions for more detailed information on these and
other topics.
Payments
You may make your monthly loan payment either by mail or online whichever is
most convenient for you.
Pay by Mail - Payment information and our mailing address are provided
on your monthly billing statement. If you cannot locate your billing statement
or have not received one, you can call our Customer Service department at (800)
603-0836.
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.
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.
Pay Online – You may now make your payments online directly from your
checking account, 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.”
Please allow 24-72 hours for payments to be credited to your account.
Escrow Accounts
In some cases, a servicer or lender will set up an "escrow" account 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.
If you do not have an escrow account, you are responsible for paying your taxes
and insurance.
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 Corporation
ISAOA ATIMA
P.O. Box 35
Eureka, CA 95502
FAX to SN SERVICING CORPORATION at (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.
|
|