Your Title Company should have provided you a folder of all important documents signed at closing. Please refer to the Note and the First Payment letter for the first payment due date and you can find the amount due on the First Payment Letter.
If your Title Company did not provide any documents at closing, please contact Element Servicing at Servicing@Nfmlending.com or call 1-866-765-1827 for assistance on your loan.
Here is an explanation on how the first payment due date is determined: Your first payment is due the following month of the loan closing date unless you opted for an early payment due date in which case your first payment due will be the very next month of closing. For example, if you closed on March 15th, your first payment will be due on May 1st. If you opted for an early payment, your first payment will be due 04/01/2021.
Please refer to the Note for the first payment due date.
Billing statements are mailed on the 17th of the month prior to the payment due date. If your first payment is due Element Home Loans, Linthicum Servicing Center, you will receive a billing statement by the 25th of the month prior to your payment due date. You will also be notified via an email at least 7 days prior to your upcoming payment due.
If your loan is transferred prior to the first payment due date and there is no payment due Element, you will receive a servicing transfer notice with the new servicer information and an effective date of transfer. You should send any payments due on or after the effective date of transfer to the new servicer.
You can mail your payment, use One Time Bill Pay to have your bank send in your payment (takes 7-10 business days) or pay online to Element Home Loans.
If your loan has been transferred to a new servicer, and you are in receipt of the servicing transfer letter, you should be able to make your payment by phone or set up an auto draft in addition to the above three payment options with the new servicer.
You can sign up for Auto Pay with the new servicer once you are in receipt of the servicing transfer notice from Element Home Loans. The servicing transfer notice provides the new servicer’s servicing contact information.
Please hold off setting up Auto Pay or Online Bill Pay until you receive the servicing transfer notice. Both Auto Pay and Online Bill Pay should be set up using the new servicer information.
Your Auto pay will start on the day you chose but only after you receive a confirmation of Auto Pay set up from your new servicer. You need to continue to make payments by other payment options until you are notified of the completion of the Auto Pay set up.
Sometimes due to the timing of the draft, your auto pay set up date could be pushed by a month. Please pay close attention to the Auto Pay effective date so you are not late on your prior payments.
Please call the current servicer of your loan for your year-end Tax statement.
If your loan is being serviced by Element Lake Zurich Servicing Center, please call 1-866-352-6802. You can also access the statement online via your borrower portal.
If you paid $600.00 or more in points and interest on the purchase of your primary residence or made at least one payment to Element Home Loans, Linthicum, Maryland Servicing center prior to your loan transfer to new servicer, you can email <ahref=”#”>Servicing@nfmlending.com or call 86-765-1827 for the year end statement.
Please call the current servicer of your loan to update your homeowner’s policy information. The insurance company should list the current servicer as a mortgagee on your new policy, so renewal billings are sent to the current servicer of the loan.
Please provide the new policy and a paid in full receipt to your new servicer for continued insurance coverage.