Lenders selling loans is a common occurrence. This is done for a variety of reasons, including seeking the ability to offer new loans. When your loan servicer changes, you’ll receive a 15-day notice beforehand. Afterward, you’ll start to make payments and interact with your new mortgage servicer instead. 

A transfer or sale of your mortgage loan should not affect you. A lender cannot change the terms, balance or interest rate of the loan from those set forth in the documents you originally signed. The payment amount should not just change. It should have no impact on your credit score.

You can expect to receive a separate notice from the new lender. This is due to you within 30 days of them taking ownership of the loan. 

The notice should include the following: 

– The name, address & phone number of the loan’s new owner.
– The date the new owner takes possession of the loan
– The person who receives legal notices and can resolve issues about loan payments
– Where the transfer of ownership is recorded.

• If you send payments automatically from your bank account (instead of the lender withdrawing them), update the payment information. Pay close attention to the effective date of the loan/servicing transfer.
• If you mail payment checks, verify the new address and the new account number for the loan with the new lender/servicer.

Loan Transfer notices will be emailed from Servicing@trinityoaksmortgage.com. If you have received a Loan Transfer email, follow the payment directions included in the notice.

If you need to make a payment to Trinity Oaks Mortgage, mail your payment to the following address:

Trinity Oaks Mortgage
Attn: Servicing
P.O. Box 1186
Red Oak, TX 75154