If it’s your first time here, 👋 we’re Carrington, a residential mortgage servicer. Our mission is to champion homeowners on their financial journey. Loan transfers are common, but if this is your first experience, here are some of the key details.
💡 Tip: Make sure to follow the personalized steps outlined in the welcome letter we send you—it should arrive in the mail within a few weeks of your transfer date.
Loan Terms
The transfer does not affect the terms of your loan. But you will receive a new Carrington loan number.
Payments
If you make a payment to your previous servicer within the first 60 days of your transfer date, your previous servicer will forward us those payments.
- Note: It can take some time for us to receive and process payments that your previous servicer forwards to us. To avoid this delay, you can begin sending your payments directly to Carrington beginning on your transfer date.
Here’s a full list of payment methods we offer, including payment through your online Homeowner Account, BillPay, mail, by phone, and more.
Credit Reporting
We won't report negatively to the credit bureaus during the first 2 months following your transfer to Carrington.
Late Fees
We also won't charge any late fees during the first 2 months following your transfer to Carrington.
Escrow, Taxes, & Insurance
If you had an escrow account for property taxes and/or insurance with your previous servicer, this will transfer over and we’ll continue making the payments on your behalf. Your escrow payment will stay the same unless an escrow analysis has recently been run on your account.
Online Account
Beginning on your transfer date, you’ll be able to register with us online. Having an online account allows you to manage your payments, escrow account, and more.
Fee Schedule
After your transfer, there could be some changes in the fees that can affect your account. For more information, take a look at our fee schedule.
Mortgage Assistance
If you had a loan modification or mortgage assistance plan with your previous servicer, we’ll continue it. After your transfer date, we’ll work on gathering the necessary information from your previous servicer.
- Note: If we’re unable to gather all the details we need from your previous servicer, we may ask you to provide documentation.
Selling or Refinancing
If you were in the process of selling or refinancing your home when the transfer occurred, you can initiate a payoff of your loan.
Multiple Loans
If you have more than one mortgage loan, only the loan or loans specified in any goodbye letters from your previous servicer and the welcome communications from us were transferred to us for servicing. If not all of your loans were transferred to us, we’re unable to add additional loans to your Carrington account.
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