Common Inquiries

Your Questions, Our Priority

A mortgage is one of life’s greatest financial commitments. So rest assured that we’re here for you every step of the way. And along the way, we realize that certain questions may surface. For your convenience, we’ve consolidated many of the more common client inquiries on this one page.

MORTGAGE RECENTLY ACQUIRED BY US

Has anything about my loan changed and are my rights under the loan documents affected by this transfer?

No. The terms of the loan are not affected by this transaction. Your loan is simply being transferred to EverBank for servicing.

I already sent my payment to my previous servicer. Will my payment be forwarded to EverBank?

Yes. Your previous servicer will forward the payment to EverBank and we will credit it to your loan. However, sixty (60) days after the transfer, they may no longer provide this service and the payment may be returned to you.

When will my loan show on EverBank’s system?

It takes approximately 5-7 days after the loan transfer date for the Client Solutions Specialists to access your loan information. We can still assist you with general information such as mailing address for payments. Standard servicing practices will still be conducted during this period.

Once your account is on our system, you can enroll your loan for convenient online access. After you enroll and sign on to your account via our homepage, you can view your mortgage loan online, manage your account, and make payments anytime, 24/7. You can set up AutoPay, which is a free service to our clients.

Will my loan modification transfer to EverBank?

If your account was modified prior to the loan transfer, the modification terms will remain in place. If your modification request has not been finalized, how we proceed will depend upon where you were in the process prior to the transfer. EverBank will provide you with the name and contact information of your Relationship Manager shortly after we receive your account. In the meantime, if you have questions, contact our Homeowners Solutions Group toll-free at 1.800.669.7724. We're here to help.

Currently, I have my tax and insurance payments made by my mortgage company. Will this continue?

Yes. If you currently have escrow funds held for the payment of your taxes and/or insurance premiums, EverBank will continue collecting these funds and making the payments on your behalf.

Do I need to contact my insurance company about the transfer?

Although your insurance company has been notified of your new servicer as a routine part of this transfer, we encourage you to confirm with your insurance carrier that they changed the mortgagee clause to the following:

EverBank, Its Successors And Or Assigns
P.O. Box 620138
Doraville, GA 30362-0138

Your loan number should also be the new EverBank loan number.

When will I receive my coupons and/or monthly statement?

A temporary coupon is included with your Welcome Letter. Even though having a coupon attached with your payment is the preferred method, payments can still be accepted without a coupon. Please be sure to include your "new" loan number on the memo section of your check, money order or cashier's check. Coupons and/or statements typically are mailed within the first 30 days of servicing.

How do I make my monthly mortgage payment?

If your loan recently transferred to EverBank, please wait 5-7 business days after your loan is transferred to use these services.

EverBank offers several convenient payment options:

Free Automatic Payment (AutoPay) Program – This recurring, automatic service deducts your monthly payment from your checking or savings account on the same day each month.

Please note: If you were enrolled in an automatic payment service with your previous servicer, this feature will not transfer. After your loan appears on EverBank’s system, you may enroll for online account access via our homepage. Then once securely signed on to your account, you may set up AutoPay or make one-time payments. Please continue to remit payment through one of our other payment options until you receive confirmation of enrollment.

Pay Online – If enrolled in online account access, visit our homepage 24/7 to sign on to your account and make one-time payments. There's no fee when you submit your payment on or before the due date. There is a $5 fee for payments received after the due date. Payments received by 9:00 pm ET will be posted the same business day. Payments received after that time will be credited the next business day.

Pay by Phone – Simply call 1.800.669.9721. After entering your loan number, follow the prompts to continue. Fees may apply.

Pay by Mail – Send your payment, along with your coupon or loan number to:

East Coast Center:

EverBank
P.O. Box 530579
Atlanta, GA 30353-0579

West Coast Center:

EverBank
P.O. Box 79301
City of Industry, CA 91716-9301

Overnight:

EverBank
301 W. Bay Street
Jacksonville, FL 32202

I currently make payments through a bill payer servicer. What do I need to do?

If you use an online or bill paying service, please update the payee information to:

EverBank
P.O. Box 530579
Atlanta, GA 30353-0579

Also, it’s important to update the account number to your new EverBank loan number.

When will I receive my year-end information for tax purposes and for my records?

Both your previous servicer and EverBank will provide you with separate statements no later than January 31. These statements will reflect the amount of mortgage interest paid and any real estate taxes paid through your escrow account during the period of time your loan was serviced by each company.

I may soon be called to active duty in the military. What do I need to do?

To find out if you qualify for an interest rate reduction or other benefits offered by the Servicemembers Civil Relief Act, please send a copy of your orders to:

EverBank
Attn: Special Services
P.O. Box 2167
Jacksonville, FL 32232
F 1.855.380.6466

I have optional products on my mortgage. Are they impacted?

Yes. If you have been paying premiums for life, disability, accidental death insurance or other optional products, these policies will not transfer to EverBank and may be cancelled. If you wish to continue your optional coverage, please contact your product provider and discuss the possibility of directly remitting your premium to them.

What are EverBank's standard fees?

EverBank's standard fees are as follows:

Fee for returned payment due to insufficient funds (check or electronic payment) $30.00 or maximum allowed by state

Priority handling fee on conventional & VA loans $20.00
Priority handling fee for FHA loans $5.00

Note: Fees may vary by state and loan type and are subject to change.

All Servicing Fees >

I have other questions about my loan. Who should I contact?

While your loan is in the process of being transferred, if you need assistance you may call our Client Solutions Team at 1.888.882.3837 and they will be ready to assist you.


INSURANCE

Why am I required to have homeowner’s insurance?

Your house is collateral for your mortgage. This insurance protects both you and EverBank if there is a loss involving your property.

What information will I need to provide my insurance agent so that he/she may set up my homeowner’s insurance?

You will need to give your agent your loan number and the following loss payee/mortgagee clause:

EverBank, Its Successors And Or Assigns
P.O. Box 620138
Doraville, GA 30362-0138

Is there a minimum coverage amount for homeowner’s insurance?

EverBank will accept minimum hazard insurance coverage of the lesser of either 1) your remaining loan balance or 2) 100% insurable value of your property. Property values change over time. As such, we recommend that you consult with your insurance agent to determine the appropriate coverage for your property.

Can I change homeowner’s policies?

Yes, you can change homeowner’s policies. To change policies, you must:

  1. Contact your insurance company to cancel the old policy effective when the new policy begins.
  2. Have your agent provide us with a copy of the new policy and your authorization to accept the policy.
  3. Provide your agent with your loan number and the mortgagee clause:

EverBank, Its Successors And Or Assigns
P.O. Box 620138
Doraville, GA 30362-0138

Do you require proof of my homeowner’s coverage?

Yes. The terms of your loan agreement require evidence of continuous coverage on your property. Otherwise we may purchase lender-placed insurance on the property.

I received a claim check from my insurance company that is endorsed to EverBank.

Do NOT send your claim check with your mortgage payment. Please contact the Client Solutions Team at 1.888.882.3837 for instructions.

What is lender-placed insurance?

Paid for by the mortgagee, this is coverage the lender obtains to protect its interest in the property. It is usually more expensive than homeowner’s insurance since it’s obtained without a property inspection and does not insure against losses to personal property or provide liability protection.

What is mortgage insurance?

Mortgage insurance protects a lender against some financial loss if a borrower defaults on the mortgage loan. It is different from other types of insurance purchased by a borrower, and should not be confused with credit, life, property or casualty insurance. Mortgagors cannot file a claim against the policy. Depending on the terms and conditions of your loan, you may be required to purchase mortgage insurance.

What needs to happen before I can cancel my mortgage insurance?

Mortgage insurance may only be cancelled when certain conditions are met. These conditions are specific to your loan, federal law and state statutes governing where the property is located and the investor guidelines pertaining to your loan. Although the following are not all the conditions for the cancellation of private mortgage insurance ("PMI"), they are the most common:

Automatic Termination: This may happen when your loan-to-value ratio reaches 78.0% and you meet the requirements listed below (based on property descriptions of single family primary residence or second homes).

  1. The minimum number of consecutive monthly mortgage payments have been made (this may vary from 24 months to 60 months)
  2. Good payment record with no delinquencies within the 24 months preceding your request for cancellation of PMI
  3. If your loan is less than two years old, only structural improvements can be considered as the increase in value to meet an 80.0% LTV
  4. If your loan is more than two years and less than five years old, and the LTV is 75% or less of the current property value subject to new appraisal verification
  5. If your loan is more than five years old, and the loan-to-value is 80% or less of the current property value subject to new appraisal verification
  6. If your loan is 80% of the original property value or purchase price
  7. For multi unit and non-owner occupied property, your loan-to-value requirement may vary from 65% to 75% based on either the current property value or the original property value

Send your written request for cancellation by mail or fax to:

EverBank
P.O. Box 2167
Jacksonville, FL 32232

F 1.866.632.9396

How is the loan-to-value calculated?

The first amount needed to determine the loan-to-value is the lesser of purchase price and appraised value. This is determined from the price paid for the home or the value the appraiser deemed the home was worth at the time of underwriting the mortgage. The formula for calculating the loan-to-value is the current loan balance divided by the lesser amount of purchase price or appraised value.

I believe I am eligible to cancel my mortgage insurance. What should I do next?

If you feel you have satisfied the preliminary conditions to have your mortgage insurance cancelled, please submit your written request today.

Send your written request for cancellation by mail or fax to:

EverBank
P.O. Box 2167
Jacksonville, FL 32232

F 1.866.632.9396

Once we receive your request, we will review your account based on specific guidelines governed by your loan and the conditions set forth by the investor for your loan. We will respond in writing with a decision or options required to qualify the loan. Not all investors will permit the cancellation of mortgage insurance. The investors that do consider cancellation of mortgage insurance follow specific guidelines. The guidelines may change at any time.

Please contact us to learn what instrument (such as a new appraisal) is required to determine the current property value. Any costs associated with obtaining this information must be paid by the borrower. Some investors will only permit the cancellation of mortgage insurance based on original property value, and will not consider the current property value to release mortgage insurance.


TAX PAYMENTS & ESCROW ACCOUNTS

Where should I mail or fax property tax bill(s)?

For current property tax bill(s):

EverBank Tax Department
P.O. Box 1499
Covina, CA 91722

F 1.626.667.6419

For delinquent property tax bill(s):

EverBank Tax Department
P.O. Box 1499
Covina, CA 91722

F 1.626.543.1090

What is an escrow account?

An escrow account is typically established at the time you close your mortgage loan. This account is held by the lender for the future payments of recurring items relating to the mortgaged property, such as real estate taxes and insurance premiums, as they become due. Lenders usually require you to pay an initial amount for each of those items to start the reserve account at the time of closing. Then each month a certain portion of your monthly payment will be deposited into your escrow account.

My mortgage payment has changed. Is that because my taxes or insurance payments went up?

Yes, that is possible. If you escrow taxes and insurance, your monthly mortgage payment includes an amount for these payments, which will be paid on your behalf by EverBank. These taxes and premiums will most likely change over the life of your loan. EverBank reviews the amounts being collected for these items annually and makes any necessary adjustments to your monthly payment. You are notified of these changes through an Annual Escrow Analysis Disclosure Statement. You will receive an Escrow Analysis Disclosure Statement annually, in accordance with the Federal Real Estate Settlement Procedures Act (RESPA).

What is an escrow cushion?

An escrow cushion is designed to cover potential increases in tax and insurance payments that may occur during the escrow year. Absent unusual increases, this cushion insures that sufficient funds are in your escrow account to pay such increased amounts. Federal law prohibits these cushions from exceeding 1/6 of your tax and insurance disbursements for the year.

I have just paid off my loan. When will I receive my escrow refund?

Your escrow refund will be mailed to you approximately 20 days after your loan has been paid in full, provided your escrow account has a surplus. You should verify that EverBank has your current mailing address so there are no delays in receiving your refund.

How can I find out if my taxes were paid?

If we hold an escrow account for your taxes, you can view the tax disbursement online or by calling the Client Solutions Team at 1.888.882.3837.

I have an escrow account and received a supplemental tax bill. What do I do?

If you receive a supplemental tax bill from your taxing authority and choose to pay the bill yourself, forward a copy of the receipt of payment to our office. We will adjust your escrow account to collect for the higher tax bill so that you will not have a supplemental tax bill in the next tax cycle.

If you want the supplemental tax bill paid from your escrow account, please make a copy for your records and forward the original bill along with your loan number to our office along with a written request for the taxes to be paid to:

EverBank Tax Department
P.O. Box 1499
Covina, CA 91722

F 1.626.667.6419

I do not have an escrow account and received a supplemental tax bill. What do I do?

If an escrow account is not established, you should pay the supplemental tax bill. If the supplemental tax bill is delinquent and you are unable to pay, please contact the Client Solutions Team at 1.888.882.3837.

What do I need to do if I live in a “homeowner area”?

Living in a "homeowner area" means that you receive your property tax bills from your taxing authority, but the lender is not sent a copy of the bill. We ask that you make a copy of the bill for your records. Forward the original to us to pay from your escrow account.

I have filed for a real estate tax exemption. What steps do I need to take and how will this change my monthly payment?

If your exemption is approved, you will need to forward your new estimated tax amount as provided by your tax collector or assessor on their letterhead. Once EverBank has received confirmation, including the new tax bill amount, we can issue a new Escrow Analysis Disclosure Statement and adjust your monthly payment accordingly. If your tax collector or assessor is unable to provide this information, the amount received from your collector at the time of the next installment date will be used to update your loan information. Typically, when you receive a tax exemption your monthly escrow payment will be lower.

You may mail or fax your tax correspondence to:

EverBank
Attn: Escrow Department
P.O. Box 2167
Jacksonville, FL 32232

F 1.904.281.6380


Year-End Statements

When can I expect to receive my statement?

EverBank is required by law to mail it to you by January 31.

Last year I made 15 months worth of payments. Can I claim all of the interest paid for those payments?

Please consult your tax advisor.

I recently sold my loan through a Simple or Non-qualifying Assumption. What interest am I entitled to claim?

That agreement was made between you and the party that assumed your loan. We calculate the interest based on the date the seller last made a payment. For example, if your last payment was made for May, we would give you credit for payments made that calendar year through May's payment. The assuming party will get credit for the interest paid from June through the end of the year.

The statement I received was reported in my ex-spouse's name and Social Security number. Can you correct it to reflect my name and Social Security number?

EverBank is required to report interest based on how the names are listed on the Promissory Note signed for the loan. Any legal documents you have should reflect who has the right to claim any interest paid. If the co-mortgagor has transferred title of the property to you, please forward a copy by mail or fax to:

Mail:

EverBank
Attn: Notice of Error or Requests for Information
P.O. Box 40509
Jacksonville, FL 32203

F 1.866.632.9396

Upon receipt of this information, we will make the appropriate updates to your account. These changes will be reflected on future 1098 statements.

Why is the interest reported under only one Social Security number?

The IRS does not require us to report the total amount of interest paid under more than one Social Security number. We report it under the primary mortgagor's Social Security number. EverBank does not determine how the interest is claimed on your tax return.


credit reporting

If I make my payment late, when does it show up on my credit report?

If your payment is received after the last day of the month it is due, it may appear on your credit report as past due in the following month.

Why is my mortgage loan not reporting on my credit report?

Your loan may not appear on your report for a variety of reasons, such as:

  • Your loan recently funded or transferred to EverBank. Reporting usually begins 30 days after a loan is funded or 60 days after your loan is transferred to EverBank.
  • Your Chapter 7 bankruptcy was discharged and you did not file a reaffirmation agreement with the court.
  • You are currently involved in a Chapter 13 bankruptcy case.
  • There may be other reasons for your loan to not appear on your credit report. If you have questions about reporting for your loan, please call the Credit Reporting Help Line at 1.888.632.9320.

I didn’t make my payment on time and now I have a 30 day delinquency reporting on my credit. Will you remove the delinquency?

We must report payments we receive fairly and accurately. If your payment is posted late due to our oversight, we will update your credit reporting; however, we cannot be responsible for US Mail delays or data entry errors you may make when paying on line. Please be sure to remit your payments when they are due and check your account to make sure that funds are remitted and received timely. You may also review your loan status by enrolling (if you haven’t already) and signing on to your account via our homepage.

Will you remove my EverBank mortgage from my credit report? It has been paid in full / transferred to another lender / foreclosed / discharged in bankruptcy.

Credit reporting agencies remove accounts automatically 7 years after the payoff date or delinquency date, or 10 years after the bankruptcy discharge date.

How do I file a dispute about credit reporting for my loan?

You may contact us in writing at:

EverBank
Attn: Notice of Error or Requests for Information
P.O. Box 40509
Jacksonville, FL 32202

You may also contact the major credit reporting agencies directly as shown below:

Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30348
Equifax Online Dispute w

Experian
P.O. Box 4500
Allen, TX 75013
Experian how to dispute your credit report w

TransUnion Consumer Solutions
P.O. Box 2000
Chester, PA 19022-2000
Trans Union Credit Dispute w

Innovis
Attn: Consumer Assistance
P.O. Box 1640
Pittsburgh, PA 15230-1640
Innovis Credit Dispute Information w

I am on a trial payment plan pending modification of my loan. Why is my loan still reporting as delinquent?

If you participate in a trial repayment plan while your loan is delinquent, we will continue to report the delinquency throughout the trial process; however, your credit report will state that your loan is under a partial payment agreement. Once your loan is brought current through the modification, we will report your account as current as long as payments are made timely under the modified loan terms.

If my spouse was awarded the property in our divorce, why won’t you take the loan off my credit?

In most cases, you are still responsible for the debt if your name is listed on the Mortgage Note and we report credit on all responsible parties.

How can I review my credit report?

Federal law requires that each of the three nationwide credit reporting agencies – Experian, Equifax, and TransUnion – give you a free credit report every year if you ask for it. Visit annualcreditreport.com for more information and to order your report. You can also find other important information there, as well as links to government websites related to credit topics.