Who Collects My Mortgage Payments? Your Mortgage Servicer

If you are asking what the company that collects my mortgage payments is called, the answer is simple: that company is your mortgage servicer. This guide explains what a mortgage servicer does, how a servicer differs from a mortgage lender, and what happens when servicing rights transfer — written for Colorado homeowners, including the many military families around Colorado Springs who see servicing changes during the life of a home loan.

• The company that collects your payments: your mortgage servicer
• The company that originated the loan: your mortgage lender
• Can the servicer change? Yes — servicing rights can be transferred to a new servicer
• Notice before a transfer: the old servicer generally sends notice at least 15 days before the transfer
• Protection after a transfer: for 60 days, the new servicer cannot charge a late fee if you paid the old servicer on time

The company that collects your mortgage payments is your mortgage servicer

The Consumer Financial Protection Bureau (CFPB) states it directly: the company that you send your monthly mortgage payments to is your mortgage servicer. Some people call it a loan servicer, a mortgage loan servicer, or a servicing company — all of those names refer to the same role.

Your mortgage servicer is also the company you direct questions to about the loan. The servicer’s contact information appears on your monthly mortgage statement, which is the first place to look whenever something about the account is unclear.

Understanding the servicer’s role starts with separating it from the mortgage lender, which is a different job entirely.

Mortgage servicer vs. mortgage lender: what’s the difference?

A mortgage lender and a mortgage servicer can be the same company, but they often are not. The two roles cover different stages of the loan.

What the mortgage lender does

The mortgage lender is the company involved in loan origination — the front end of the process, from application through loan closing. In a brokered transaction, a company like 719 Lending works with you on the application and shops the loan among wholesale lenders, and the chosen lender funds the mortgage loan.

Once the loan closes, the original mortgage lender’s day-to-day role is largely finished. The lender does not necessarily keep collecting the payments.

What the mortgage servicer does

The mortgage servicer handles everything after closing: collecting monthly payments, sending the mortgage statement, answering account questions, and processing requests for information. If you fall behind, the servicer is also the company you work with on loss mitigation options.

Because the roles are separate, the name on your payment coupon may never match the name of the mortgage lender you worked with at the start. That separation is also why servicing can move from one company to another.

What does a mortgage servicer actually do each month?

A mortgage servicer’s core job is managing the account side of the home loan. The monthly mortgage statement is the clearest window into that work.

Your monthly mortgage statement

According to the CFPB, a mortgage statement usually arrives monthly and contains customer service contact information for the mortgage servicer, the amount due, the due date, the interest rate on the loan, and any fees and charges. If the account is delinquent for more than 45 days, the statement also shows past-due information, late fees, and how much is needed to bring the account current.

Review the statement each time it arrives. Catching a misapplied payment or an unexpected fee early is far easier than untangling it months later.

Coupon books and other notices

Not everyone receives a periodic statement. Some servicers send a coupon book once a year instead — payment slips you tear out and return with each payment. A coupon book may only show the servicer’s contact information, your account information, and the amount due, so you may need to contact the servicer for payment history or an explanation of the amount due.

Some servicers send an email or another type of notice instead. If you are not sure what you should be receiving, contact your mortgage servicer or send a written request for information.

Escrow and the pieces inside the payment

Many homeowners pay property taxes and homeowners insurance through an escrow account managed by the servicer. When the monthly payment includes escrow, the servicer collects those amounts along with principal and interest and pays the tax and insurance bills from the account.

That escrow function is one of the main reasons monthly payments change over time, which we cover below. First, a word on who this matters to most.

Who does this apply to?

Every homeowner with a mortgage loan has a mortgage servicer, whether the loan is conventional, government-backed, or anything else. If you make monthly payments on a home loan, some company holds the servicing rights to collect them.

This matters especially for Colorado Springs military families. A PCS move often means buying, selling, or renting out a home while the mortgage stays in place — and a servicing transfer landing in the middle of a move is easy to miss when mail is forwarding and addresses are changing.

It also matters to anyone who set up automatic payments through a bank or credit union and then stopped looking at statements. Autopay does not update itself when the servicer changes.

Which brings us to the single most important thing to understand about servicers: the company can change.

What happens if my mortgage servicer changes?

Your servicer can change. The CFPB explains that a mortgage servicer may transfer the mortgage servicing rights for your loan to another company. When that happens, you must start sending monthly payments to the new servicer after a certain date, and you direct questions about the loan to the new servicer going forward.

A servicing transfer does not change the loan itself — it changes who collects the payments and manages the account.

You should be notified before the transfer

Under federal rules, your old and new servicers generally must send you a notice about the transfer of the servicing rights. The old servicer generally should send this notice at least 15 days before the transfer. The new servicer generally should send a notice within 15 days after the transfer, unless it was combined with the first notice.

The notice should tell you the date the old servicer will stop accepting payments, the date the new servicer will begin accepting payments, the new servicer’s name and contact information, and the specific date the right to service the loan transferred.

Send payments to the right company

If you send payments to the wrong servicer after being notified of a servicing transfer, the payments may not be credited properly. Pay attention to the date you need to start paying the new servicer, and build in extra time if you mail payments.

If your bank’s or credit union’s online bill-pay system automatically pays the mortgage, you must tell the financial institution to redirect those payments to the new servicer. Then carefully review the monthly mortgage statement to confirm payments are being credited accurately.

The 60-day protection after a transfer

For 60 days from the date the loan servicing transfers, the new servicer cannot charge a late fee or treat a payment as late if you sent it to the previous servicer on time or within the applicable grace period. This is the federal safety net for payments caught mid-transfer.

If a transfer goes wrong, you have tools — covered next.

What if there are problems with a servicing transfer?

The CFPB advises sending both the old servicer and the new servicer an information request or a notice of error when a transfer causes issues. Send a notice if you never received a notice of transfer, if you think payments are not being applied correctly, or if you had a loss mitigation application with the old servicer and the new servicer is not working with you on it.

Send any notice of error to the address the servicer uses for errors and information requests — it may be different from the payment address. That address should appear on the statement or the servicer’s website.

If the problem is not fixed, you can read the CFPB’s guidance on servicing transfers and submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372).

One more servicer-related question comes up constantly: why did the payment amount change?

Why did my monthly mortgage payment change?

Several things can cause a monthly mortgage payment to change, and the mortgage servicer is the company that applies the change. The CFPB lists the common reasons.

Escrow, taxes, and insurance

If the payment includes an escrow account for property taxes or homeowners insurance premiums, the payment goes up or down when those taxes or premiums change. Check the monthly mortgage statement for the itemized charges.

Loan features that change the payment

A temporary buydown lowers the payment for a limited time, with payments increasing each year until the buydown ends. An adjustable-rate mortgage (ARM) can change the payment when the interest rate adjusts. Interest-only or pay-option loans see payments rise when principal payments begin. Private mortgage insurance amounts can change, and the payment can drop if you become able to cancel the insurance and opt to do so.

Fees or a servicer mistake

New fees charged by the servicer can increase the payment. It is also possible the servicer simply made a mistake. Call the servicer first, ask for a corrected statement, note the reference number and the representative’s name, and if the phone call does not resolve it, send a written notice of error.

All of this is spelled out in the official source, which is worth bookmarking.

What the official source says and where to read it

The authority here is the Consumer Financial Protection Bureau, the federal agency that implements and enforces federal consumer financial law. The CFPB’s Ask CFPB pages define the mortgage servicer, explain how to manage a monthly mortgage payment, and walk through why a mortgage payment goes up or changes.

Those pages are general consumer information, not legal advice, and the CFPB updates them periodically. For questions about your specific loan, the servicer’s contact information on the statement is the right starting point.

What to do next

Pull out your most recent mortgage statement and find the servicer’s name and customer service contact information. Confirm any automatic payments through your bank or credit union are going to the current servicer, and read every transfer notice that arrives — especially around a PCS move or address change.

If you are shopping for a home loan in Colorado Springs or anywhere in Colorado and want to understand who will handle the loan after closing, talk with a loan officer at 719 Lending. We can walk through how loan origination and mortgage servicing fit together before you ever make a first payment.

Frequently asked questions

What is the company that collects my mortgage payments called?

It is called your mortgage servicer. The Consumer Financial Protection Bureau defines the mortgage servicer as the company you send your monthly mortgage payments to and the company you contact with questions about your loan.

Is my mortgage servicer the same as my mortgage lender?

Not always. The mortgage lender handles loan origination through closing, while the mortgage servicer collects payments and manages the account afterward. They can be the same company, but servicing rights are often transferred to a different servicing company.

Can my mortgage servicer change without my permission?

Yes. Servicing rights can be transferred to a new servicer, but the old servicer generally must notify you at least 15 days before the transfer, and the new servicer generally must send a notice within 15 days after, unless the notices are combined.

What if I accidentally pay my old servicer after a transfer?

For 60 days from the date the servicing transfers, the new servicer cannot charge a late fee or treat the payment as late if you sent it to the previous servicer on time or within the applicable grace period.

How do I find out who my mortgage servicer is?

Check your monthly mortgage statement or coupon book — it lists the servicer’s name, contact information, the amount due, and the due date. If you receive an email or other notice instead, contact the servicer or send a written request for information.

Why did my mortgage servicer change my payment amount?

Common reasons include changes to property taxes or homeowners insurance paid through an escrow account, an adjustable-rate adjustment, the end of a temporary buydown, the start of principal payments on an interest-only loan, a change in private mortgage insurance, new fees, or a servicer mistake.

719 Lending Inc., NMLS #1601989 · Equal Housing Opportunity

719 Lending Inc. is not affiliated with or endorsed by HUD, FHA, VA, USDA, CHFA, the CFPB, or any government agency.

Last updated: October 2026