
SERVICING DISCLOSURE STATEMENT Aliantmortgagecom Form
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People also ask
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What is a servicing disclosure statement?
A mortgage servicing disclosure provides information from the lender about whether or not the servicing of the loan may be transferred, sold, or assigned to some other person or entity during the life of the loan.
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Why did my mortgage company transfer my mortgage?
Mortgage companies often sell loans to other financial institutions or investors for various reasons. One common reason is that it allows them to free up capital and have more funds available to issue new loans. Selling loans also helps manage risk and maintain liquidity for the lending institution.
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Which of the following is a purpose for the mortgage servicing disclosure statement?
A Mortgage Servicing Disclosure Statement, which discloses to the borrower whether the lender intends to service the loan or transfer it to another lender. It also provides information about complaint resolution.
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What is a SPS mortgage?
Select Portfolio Servicing, Inc. (SPS) is an industry leading mortgage servicer. Founded in 1989, SPS is headquartered in Salt Lake City, Utah with an office in Jacksonville, Florida. At SPS, our on-going mission is to provide servicing solutions that exceed expectations.
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Why did my mortgage get transferred to SPS?
Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. Many lenders try to protect their brand when it comes to foreclosing on homeowners.
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Why did Wells Fargo sell my mortgage to Shellpoint?
For instance, a company like Wells Fargo does not want to have their brand name associated with a foreclosure. So they will transfer servicing to a company like Shellpoint once you get too far behind.
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Why was my mortgage transferred to SPS?
Homeowners are often transferred to SPS once they become delinquent on their mortgage payments.
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What are mortgage servicing transfer disclosures required for?
Mergers, corporate acquisitions, or reorganizations. Disclosures are required under this section when, as a result of a merger, corporate acquisition, or reorganization, the ownership of a mortgage loan is transferred to a different legal entity.
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