If a loan has been transferred to a new servicer after the completion of Steps 1 and 2, how does the new servicer complete Step 3?
The new servicer should follow the procedure regarding “Acquiring a Loan” that is found under Step 2. The new servicer must retrieve the ‘tracking number’ generated from the Step 1 from the original filer in order to begin the transfer process. Once the new servicer logs onto the system to file Step 2, it will use the ‘Acquired a Loan’ feature to transfer the loan to its account before it can submit the filing. In addition to the tracking number, the new servicer will be required to provide additional loan-specific information including zip code and borrower’s last name. This process is only possible when submitting individual filings, it cannot be included on bulk filings.
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