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Can a mortgage loan servicer change your original loan number or account number?
Anonymous2 views2 answers
When my mortgage lender changed servicers, my account number(Loan number) also changed. The loan number does not match the loan number on my original mortgage and note, nor the previous servicers loan number which remained the same until the new servicer took over. Can a Servicer change the loan number ? Are my payments even going to the correct loan? What problems couldthis cause for the lender?
Mortgage servicers routinely change the loan account numbers when they take on the servicing of a loan. While I agree that this would seem to sow the seeds for confusion, I am not aware of any opinion or regulation that prohibits it.
Borrowers are free to submit qualified written requests asking for a loan accounting so they can verify if their payments are being received an applied.
David Lloyd MerrillChapter 11 Bankruptcy AttorneyWest Palm Beach, FL ·
Yes -- and they do so as a matter of routine. They have procedures for tracking original account numbers, so they are almost assuredly crediting your account properly. That said, always review your monthly statements to ensure that what is supposed to be happening is actually happening.
