All change requests must be submitted in writing. Follow the steps below to submit a change to the designated disbursement account:Complete the HELOC Disbursement Account FormProvide a copy of a voided check from the new bank account you are designating as your disbursement account. Allow 2 business days for the request to be processed. A valid email address must be on file to receive immediate notification of requests and changes. Once the request is processed a confirmation...
READ MOREAn Adjustable-Rate Mortgage (ARM) is a loan with a fixed interest rate for an introductory period and then changes at regular intervals according to the index listed in the Note. ARMs are also known as a Variable-Rate Mortgage.
READ MOREAfter the introductory period, the new interest rate is calculated based on the terms outlined in the Note.
READ MOREA recast occurs when a large lump sum payment is made towards the principal balance and a request is made to recalculate the monthly payment based on the new lower balance. The interest rate and loan term remain unchanged. Recasts are subject to eligibility and a fee may apply.
READ MOREA buydown mortgage is a way to lower the mortgage interest rate for a set period of time. This can be done by paying an upfront fee, known as discount points, or by having the seller or lender pay for a temporary buydown.
READ MOREClick here to learn more on how biweekly payments work and why it might be a great choice for you.
READ MOREA mortgage transfer means your account is now being managed by a new company. In this case, PHH Mortgage is your new mortgage servicer. That means we’ll handle everything related to your account – from processing payments to answering your questions and providing support. We’re here to help make things easy and help you every step of the way.
READ MOREMortgage transfers are a normal part of the industry and happen for various business reasons. We’re excited to be your new mortgage servicer and look forward to supporting you with reliable service and care.
READ MOREIf you’ve just had your mortgage transferred, it may take a week before you can access your account online or through our automated phone system. That’s because we’re carefully verifying and updating your account information from your previous servicer. As soon as everything is set up, you’ll be able to register online and use your new account number without any issues. Thanks for your patience – we’re working to get everything ready for you!
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