facebook

Homeowner Frequently Asked Questions

Homeowner Frequently Asked Questions

As a new customer with Shellpoint Mortgage Servicing, there are always a few questions. Here are a few frequently asked questions to help you get started.

What is mortgage servicing?

After your mortgage loan is originated, it must be serviced to manage your mortgage account. As your mortgage servicer, we collect your payments, pay your tax and insurance bills, as well as calculate the interest rates on variable-rate loans. If there ever comes a time that you can’t make your payments, we’ll work closely with you to avoid foreclosure. Mortgage Servicing also forecloses on properties if necessary and maintains, refurbishes, and sells vacant properties on behalf of the mortgage owners.

Can I change mortgage servicers?

No, your lender decides which loan servicer will manage the mortgage accounts they own.

Why was my mortgage servicing transferred to you?

It’s common for mortgage lenders and investors to transfer mortgage loan servicing from one servicing company to another. This allows better homeowner service, lower servicing costs, better regulatory compliance, and more. It is important to note is that a servicing transfer does not change any of the terms of your mortgage agreement; the only difference is the company you send your payments to.

What should I do if I sent my latest payment to my previous loan servicer?

Nothing. Your previous servicer will forward your payment to us. Per government regulations, we don’t charge late fees or report late payments to the consumer credit-reporting agencies during the first 60 days after the transfer.

Will my autodraft information transfer to you from my previous servicer?

Yes—if you previously paid your monthly payment by automatic withdrawal (autodraft) from your bank account, that information will transfer over to us automatically. But if you were on a bi-weekly autodraft plan, your information will not automatically transfer to us. You’ll need to set up a new bi-weekly autodraft plan by completing and submitting our Bi-weekly Autodraft Form.

What do I need to do if I use an online bill-pay service to pay my mortgage?

Update your bill-pay settings by entering your new payee Servicer name and your new loan number into your online bill-pay system.

What is an “escrow account?”

An escrow account is a type of savings account. As part of your regular mortgage payment, we set aside the funds needed to pay your annual property taxes, insurance bills, and (in some cases) homeowner association (HOA) fees when they come due. Based on the actual tax and insurance bills we receive for your property, we analyze your escrow account at least once a year and adjust the amount you need to pay into it. But because your taxes, insurance rates, and other fees can change, the amount you need to pay into your escrow account can also change.

When do you analyze my escrow account?

At least once a year. Our analysis schedule is based on the state in which your property is located (refer to the following table). We inform you about our analysis and any resulting changes in your mortgage payment by sending you a personalized video presentation, followed by a detailed letter.

If you live in:

We analyze your escrow account in:

FL, ID, KS, MO, NH, OK

January

MD, NC, SC, TX, WI

February

LA, MI, ND, TN

March

AL, HI, MS, NY

April

CA, CO, Guam

May

GA, VT, WY

June

KY, NM, WY

July

OH, PR, RI

August

AK, AR, CT, MA, ME,NV

September

DE, DC, IL, NE, PA, WV

October

IA, IN, MN, NJ, SD

November

AZ, MT, OR, UT, WA

December

 

Why did my mortgage payment change?

Most changes in your payment amount are due to changes in your property taxes or your homeowner’s insurance premiums. If you have an adjustable-rate mortgage, your payment may have changed as a result of us recalculating your interest rate.

Where can I find a list of all of your fees?

Our fee schedule is available on our website.

Are there downloadable forms on your website?

Yes, a wide that are available for you to download and review.

I’ve been affected by a natural disaster. What do I need to do?

  • First, make sure your family is safe and secure. If you are unable to make your mortgage payment or need help with your homeowner’s insurance due to a natural disaster (such as wildfire, flood, hurricane, earthquake, or tornado), call our Customer Care Team at 800-365-7107. For insurance help, select Option 5.
  • To register for federal disaster relief, call the FEMA Helpline at 800-621-3362 / TTY 800-462-7585, or visit DisasterAssistance.gov to see if you qualify for Individual Disaster Assistance.
  • For step-by-step instructions on how to file a FEMA disaster claim and how to work with your insurance company and their adjusters, visit fema.gov/nfip-file-your-claim.

Someone contacted me claiming to represent your company, but I think it might be a scam. What should I do?

Always be on the alert for scam artists who falsely claim to represent us. If you suspect that a call, email, text, or letter you’ve received is fraudulent, don’t give out any personal information. Instead, call us immediately at 800-365-7107.

Here are some tips to help you recognize when you’re dealing with a scammer:

  • When we validate your identity on the phone, we will never ask for more than the last 4 digits of your Social Security number.
  • We may encourage you to make your payment on time, but we will never ask you to use your credit card to pay immediately.
  • We will never ask you to make your mortgage payment using store gift cards.

I’ve received a bill for my property taxes. What should I do with it?

If your loan has an escrow account, you do not need to send us the bill. Your tax authority sends us an electronic version of your bill, and we’ll make any required payment on your behalf well before the due date. If your mortgage does not include an escrow account, you’ll need to pay your tax bill yourself.

How do I set up an account on your website?

You can register your account online and follow the on-screen prompts and instructions to set up your account.

Why can’t I use my email address as the username for my account?

For security reasons, our system doesn’t allow special characters (such as @, %, and #) in usernames.

What is my Tax ID Number?

Your personal Tax ID Number is the same as your Social Security number. If you don’t have a Social Security number, call our Customer Care Team at 800-365-7107.

Why does my account login require a ten-digit loan number?

Our system is designed to handle millions of loans, and their numbering formats vary. If your loan number is only eight or nine digits long, add one or two zeroes to the beginning of your loan number to ensure that our system recognizes your account.

Why does your system lock me out if I enter the wrong username or password several times?

To protect your privacy, our system locks your account if you try to log in too many times using the wrong username or password. To reset your username or password, call our Customer Care Team at 800-365-7107

Why do I need to answer security questions to sign into my account?

Your answers to our security questions help us protect your account by ensuring that you are only logging in.

How can I see my account history online?

Log into your account. From the dashboard, click on LOAN DASHBOARD under QUICK LINKS. Here you will see all information pertaining to your account.