Make a Mortgage Payment
HomyLoan is a mortgage broker and does not collect loan payments. Your payment goes to the loan servicer named on your monthly statement. Here is how to find your servicer and pay safely.
Making payments
Pay your mortgage through your loan servicer
How to make your mortgage payment.
- Your payment goes to the loan servicer named on your monthly statement, not to HomyLoan.
- Find your servicer's name, phone number and website on your monthly statement or Closing Disclosure.
- Pay online through the servicer's website or app, by phone, or by mail using the address on your statement.
- Ask your servicer about automatic payments so you never miss a due date.
- Not sure who your servicer is? Contact your HomyLoan loan officer and we'll help you find out.
Who gets your payment
How to find your mortgage servicer
Your loan servicer collects your monthly payment, manages your escrow account and answers questions about your balance. HomyLoan arranges loans as a broker but does not service them, so start with one of these sources.
Your monthly statement
The company that sends your monthly mortgage statement is your servicer. Its name, payment address, phone number and website are printed on every statement.Your Closing Disclosure
Your Closing Disclosure and closing package name the lender and often the initial servicer, along with your first payment date.MERS ServicerID
Many loans are registered with MERS. Its free MERS ServicerID lookup lets you search by property address or name to see who services your loan.
If your loan is sold
Servicing transfers: goodbye and hello letters
It is common for the right to service a mortgage to be transferred after closing. Your loan terms, rate and balance stay the same; only the company you pay changes. RESPA requires written notice so you know where to send payments.
The "goodbye" letter
Under RESPA (Regulation X), your current servicer generally must notify you at least 15 days before the transfer takes effect.The "hello" letter
The new servicer generally must notify you no more than 15 days after the transfer. The two notices may also come as one combined letter.What the notices include
The effective date, the new servicer's name, address and toll-free phone number, and the date the old servicer stops accepting payments.60-day grace period
For 60 days after the transfer, a payment sent on time to the old servicer cannot be treated as late by the new servicer, and no late fee can be charged for it.
Taxes and insurance
How escrow works
Many mortgage payments include more than principal and interest.
Monthly deposits
With an escrow account, part of each payment goes toward property taxes and homeowners insurance, and mortgage insurance if your loan has it.The servicer pays the bills
Your servicer pays your property tax and insurance bills from escrow when they are due, so you don't need to save for large annual bills yourself.Annual escrow analysis
Once a year the servicer reviews the account. If taxes or insurance went up, your payment may rise to cover a shortage; if there is a surplus, you may receive a refund.
Stay safe
Avoiding mortgage payment scams
Scammers sometimes pose as servicers to redirect payments. Slow down and verify before you change where you pay.
Red flags
- An email, text or call telling you to send payments to a new account
- Pressure to pay right away by wire transfer, gift card or payment app
- A "servicer" letter that arrives without a notice from your current servicer
- Offers to stop a foreclosure for an upfront fee
How to protect yourself
- Call your servicer using the number on a statement you already have, not a number in the message
- Confirm any transfer with both the old and the new servicer
- Pay only through your servicer's official website, app, phone line or mailing address
- Report suspected fraud to your servicer and to the CFPB
A note from HomyLoan
- HomyLoan is a mortgage broker and does not service loans or collect mortgage payments
- We will never ask you to send your monthly payment to us
- If something seems off, call us at (830) 200-0016 and we'll help you check
Mortgage payment FAQs
No. HomyLoan is a mortgage broker and does not service loans, so your payment goes to the loan servicer named on your monthly statement.
Check your latest monthly statement or your Closing Disclosure. You can also search the free MERS ServicerID lookup or call your HomyLoan loan officer for help.
Servicing rights are often transferred after closing. Your loan terms do not change, and you should receive goodbye and hello letters explaining where to send payments.
For 60 days after a transfer, an on-time payment sent to the old servicer cannot be treated as late by the new servicer. Contact both servicers to confirm the payment was forwarded.
The most common reason is an escrow change after property taxes or homeowners insurance increased. On an adjustable-rate mortgage, a rate adjustment can also change the payment.
Contact your servicer as early as possible and ask about available options. A HUD-approved housing counselor can also help you review your choices at no or low cost.