If my loan gets transferred to another company, does the new lender have the right to request additional information from me, or to make changes to my loan?
– This is a two-part question, therefore requires a two-part answer. The answer to the first part of this question is yes – the new lender does indeed reserve the right to request additional information once they have taken over the servicing of your loan. The chances of this are small because the lender who assumes your contract will have your complete file on hand before agreeing to take over your loan, therefore they can review all of the underwriting information at their leisure. However, if by some chance they feel that there are questions or concerns that the original company failed to address during the initial underwriting stages of your application, they do reserve the right to request clarifying documentation or explanation. To answer the second part of this question, whether or not the new servicing company is permitted to alter the mortgage contract, the answer is most definitely no. Your loan is a legal and binding contract between you and the original lender. You sign mul
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