* Always keep your servicer informed of any changes in your address and phone number. Provide this information in writing and forward it to the address indicated in your welcome letter. This address is usually different from the one that you would send payments.
* When your servicing is transferred, make sure you receive both a goodbye letter and a welcome letter. If you don't receive both letters, call your old servicer to verify the transfer.
* When you receive the letters, read them carefully making note of the new servicer's name, address, phone number, contact name and payment information.
* When making your payments after your servicing has been transferred, follow the instructions in the welcome letter.
* Make sure that your insurance companies (homeowners, flood/hazard, life/disability) and your tax authority have been notified of the transfer.
* Find out which company will be reporting on your interest paid for income tax purposes.
* Ask questions at the time of the transfer. If there is a problem, it is easier to handle it as soon as it arises. If you have questions after the transfer is completed, contact your new servicer.
