Now What?

now what

Following settlement, you will likely find yourself asking...

“When (and to whom) do I make my first payment?”

Until you hear from us otherwise, please make payments to: Apex Home Loans.

Your loan will soon be transferred to a new financial institution (also known as “servicer”).

At that time, you will be notified by Apex and the new servicer (via both U.S. mail and e-mail) with:

· Your new loan number

· That servicer’s name and contact information

· HOW to make payments to them

· Exactly WHEN to begin making payments to them

Payments are due on the first of the month. (There is a fifteen-day grace period.)

You will receive a payment letter from Apex around the twentieth of the month for the payment due on the first of the following month.

Until your loan is transferred to your new servicer, please continue making your payments to: Apex Home Loans.

“I’m noticing my first payment is due more than 30 days from now. Is that correct?”

Yes. When a loan closes early in the month, the first payment is not due until the first of the month that follows the next full month. (Example: a loan closing on 10/15/19 will have its first payment due on 12/1/19)

“How do I set up ‘auto-draft’ or ‘auto-pay’ for my mortgage payments?”

Once your loan has been transferred from Apex Home Loans to one of our servicing partners, this option will be made available by that new servicer.

“What do I do if I receive a homeowner’s insurance bill or a property tax bill?”

If your loan includes an escrow for your taxes and insurance (most loans do*), then your servicer should also receive a copy of those bills and pay them on your behalf. If you want to be sure, you can forward copies of what you receive to your servicer.

*If you specifically requested a loan without escrows for taxes and insurance, please pay these bills directly.

Important notice regarding third-party marketers appearing as Apex:

Since mortgage loans are a matter of public record, companies appearing to be (or appearing to be affiliated with) Apex Home Loans will likely market products/services like “Mortgage Protection Plans.” These companies are NOT affiliated with Apex.

Your Apex team is here for you:

Payments: CaroleLea Cox at 240-268-3149

Customer Experience: Steve Dorfman, your Apex CXO (Chief eXperience Officer) at 240-268-3440

All other matters: Please contact your loan officer team

Note: By law, credit scores cannot be modified or lowered based upon payments made in the first 90 days & no late fees can be charged to your account.