2013-02-13 —

``Mortgage servicing transfers are common and occur when a mortgage owner sells the right to service its loans or when the owner outsources the servicing duties. These transfers can be logistically challenging, sometimes involving moving of hundreds of thousands of loan documents. They can also be positive for consumers, especially when investors move loans to specialty companies offering better service. They can also be disruptive as consumers must deal with a new company and its forms and paperwork, different staff, and addresses for payments. If the transfer process is not handled properly, consumers may find that their servicer lost important loss mitigation documents or that the servicer did not properly credit payments. ''

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