POSSIBLE SCAM ALERT- BOGUS MORTGAGE SERVICER CHANGE NOTICE?
Judson Carusone • October 1, 2021
Have you received a notice that your mortgage payments should go to a new servicer?
It seems a new scam has surfaced this month - October 2021. So beware if you have a loan that is a HUD backed mortgages, including reverse mortgages, FHA and USDA rural home loans. People are getting notice of a mortgage servicer transfer and a change of the address for payment starting in October.
At this time, this notice appears to be a scam. The new servicer is said to be ISN Corporation which is a legitimate company that works with government agencies including HUD. But the contact information on the notice including the payment information does not appear to be connected with ISN. If you receive such a letter, we suggest you call your current loan servicer and ask if there has been in fact a change to a new servicer.
In addition, current law requires that an old mortgage servicer forward to the new servicer any payments accidently sent to the old servicer during the change. So you can still pay the way you always have while you are confirming if there actually is a change in where to send or how to make your payments. This will allow you to avoid any late fees.
Please call or email if you have any questions about this possible scam. .
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