Q: Who is First Federal Bank?
A: We are a people-centric financial institution dedicated to helping homeowners; we structured and funded your loan, underwrote the deal and prepared all of the closing documents.
Q: Is First Federal Bank Mortgage a servicing lender?
A: In most cases, we will sell your loan to a lender who specializes in mortgage servicing. We are required to give you 15 days notice before your payment is due if your service has been transferred.
Q: I have no idea when my first payment is due. Where can I find that information?
A: If you received a copy of your closing documents at settlement, you can find this information in a couple of places within that packet. The first payment date is referenced on the following documents:
- Monthly Payment Letter
- Temporary Payment Coupons
Note: If you do not have your closing documents, please e-mail [email protected] with your name, loan number (if available), and the property address and we will research this information for you.
Q: My first payment will be due soon, and I have not received a coupon or statement advising me where to send my payment.
What do I do?
A: In every closing package, First Federal Bank Mortgage includes 3 temporary payment coupons to use. If you received this package at closing, locate the payment coupons. If you have not received a letter from us in the mail notifying you that the servicing of your loan has been transferred to a new lender, please contact [email protected]
Q: I cannot locate the temporary coupons in my closing package. Who can I contact for a duplicate?
A: If you are unable to locate your coupons, please e-mail your request to [email protected] with your name, loan number (if you have it), and the property address.
Q: I received a letter in the mail that the servicing of my mortgage has been transferred and now I am confused as to where I should send my payment. Who can I speak to for clarification?
A: Not only is First Federal Bank Mortgage required by law to send what is called a “goodbye letter” when the servicing of your loan transfers, the new lender is required to send a “welcome letter”. Both letters outline similar information, if you read them carefully – when your last payment to First Federal Bank Mortgage will be made and when your first payment is due to the new lender. If you are still unsure where to send a payment, please send your inquiry to [email protected] (Preferred Method) or call 888-699-5715 and ask to speak with a closed loan customer support specialist.
Q: I already sent my payment to First Federal Bank Mortgage, but then I realized it was supposed to go to the new servicing lender. What do I do?
A: First Federal Bank Mortgage will automatically forward it to the new lender.
Q: I accidentally sent a payment to the new servicing lender that was supposed to go to First Federal Bank Mortgage. What do I do?
A: The new lender will not automatically return those funds to First Federal Bank Mortgage. Those funds will get applied to the next payment that is due according to THEIR records.
There are two options:
1) You can leave the funds with the new lender (which means you will not owe them anything for the upcoming month, but it’s always a good idea to call them to confirm) and issue another check to First Federal Bank Mortgage for the current payment or;
2) Contact First Federal Bank Mortgage’s servicing department who will issue a formal request to the new lender to have those funds delivered back to First Federal Bank Mortgage and apply it to your loan.
Q: My taxes and/or homeowner’s insurance are due for renewal and I need to know where to send a copy of the bill for it to be paid from my escrow account.
A: Please e-mail your name, loan number (if you have it), and the property address to [email protected] We will research and reply with instructions of where to send your bill.