• FAQ

    Payment Methods

    So many payrific ways to pay

    We’re happy to offer several payrific ways to pay, including online, mobile app, mail, and phone. However, we don’t have coupon books or allow your payments to be delivered via credit card, singing telegram, and message in a bottle—but we’re sure you’ll find the option that works best for you.

    Auto Pay is a great way to pay because it automatically deducts your monthly payment on the same exact date each month. You can choose where you’d like your payment deducted from: checking or savings. And you can choose the date you’d like your payment made on: from the 1st to the 14th of each month. It’s totally up to you! By the way, we get lots of inquiries about making mortgage payments via credit cards, but that’s simply not an option.

    News Flashtastic: AutoPay is free, simple to set up, and you can cancel it anytime. If you’re not already logged in, get started by clicking here

    All you have to do to set up AutoPay or make a one-time online payment is log into your TMS account and enter your preferred checking or savings account info. Click here to log in to your TMS account.

    Don’t know your account number and routing number? You can most likely find it by signing in to your personal bank account on your financial institution’s website. Also, for checking accounts, the account and routing numbers can be found at the bottom of your checks.

    The TMS Happinest Mobile app is your private and secured way to view and manage your accounts at your convenience. It’s appsolutely apptastic! Download here

    What’s so Apptastic about our app?

    It’s payrific: Make a payment. Manage payment methods. View loan balance and next payment due.

    It’s doctacular: Upload documents. View transactions. Enroll in paperless and view mortgage statements.

    It’s notifibration: Get notifications, including when statements are ready, payments are due, payments are late, and payments are made.

    We also accept payments the good ol’ fashioned way: paper mail. Just write your loan number on a check or money order payable to “TMS.” Then remove the detachable coupon at the bottom of your most recent statement and slip it, along with your check or money order, into an envelope addressed to the below address. Misplaced your coupon? No worries, as long as your loan number is on your check or money order, we’ll be able to process it.

    First Class Mail:
    The Money Source Inc.
    ATTN: Payment Processing
    P.O. Box 650094
    Dallas, TX 75265-0094

    Overnight Mail:
    The Money Source Inc.
    ATTN: Cashiering
    500 S Broad St. Suite 100A
    Meriden, CT 06450

    MoneyGram:
    Go to MoneyGram locations to find a location near you.

    All you gotta do now is put a stamp on it. And that’s mailtastic!

    If you’re in a situation that’s thrown your usual payment routine out of whack—for example, you’re about to be vacationing, just chillin’ on the beach—you can set up a non-recurring one-time payment before you leave. If you’re not already logged in, get started by clicking here

    If your computer is on the fritz, or if you’ve emptied every drawer and found exactly zero stamps, then maybe it’s time to consider pay-by-phone. You’re just going to need your account number and the last four digits of your Social Security number.

    Then call 866-867-0330 and follow the instructions to make an automated phone payment. Or, if you’re hankering to speak to a CAREologist, they’re more than happy to help you. Just follow the prompts to make a payment the way that works best for you.

    News Flashtastic: A convenience fee of up to $12 may apply.

    This is an easy one. You can find your monthly payment due date in your mortgage agreement. Most mortgage agreements state a 1st of the month due date.

    If you’re not able to make your payment on time this month, we understand, it happens sometimes.

    Please give us a call at 866-867-0330 and let us know. We are always there for you to do everything we can to understand your situation and work out an arrangement that works best for you (and the sooner you call, the more we can help).

    We’re your homeownership partner, and we want you to know that you’re never on your own.

    A little bit of grace can go a long way, and we understand that. Your grace period is a specific number of days after your official due date—during this time you can make a payment without it being considered “late.”

    If you make your payment after your grace period, it may pick up some late fees. And nobody wants those—they’re icky.

    Most late charges are assessed after the close of business on the 16th of each month. If the 16th falls on a weekend or holiday, late charges are assessed after the close of business on the next business day. (See your mortgage agreement or your monthly billing statement for your loan’s specific late fee and grace period).

    If you’re uncertain if you’ll be able to make your payment before the end of your grace period, please call our CAREologists at 866-867-0330. We are always there for you to do everything we can to understand your situation and work out an arrangement that works best for you.

    It’s possible it could change. The things that could affect the amount you owe each month are: a change in your rate (a recent ARM adjustment); a loan modification; or an escrow payment change. If you’re interested in learning how Escrow can change your payment, check out our Happy Hub blog on Escrow here.

    But breathe a sigh of relief, if the amount you owe does change, we’ll adjust your payment accordingly in order to cover it. And, of course, we’ll be sure to notify you right away.

    If you have an ARM loan, you’ll be notified by letter before any changes go into effect. Depending on the specifics of your mortgage agreement, your monthly payment amount could increase or decrease.

    Of course, if the change causes an increase in your payment amount that you believe will be difficult for you to manage, please call our CAREologists at 866-867-0330 right away. We are always there for you to do everything we can to understand your situation and work out an arrangement that works best for you.

    Changing your settings is a piece of cake. If you want to change the date, bank account, or amount (by removing or adding additional principle), just click here to cancel your existing Autopay and set up a new one with your new settings.

    If your payment arrives on a weekend or one of the holidays below, it will post to your account the next business day that we’re back in the office.

    Although we do not observe National Sticker Day, Opposites Day, or Popcorn Lovers Day (at least not yet!), we do observe quite a few U.S. holidays. Check out the complete list below.

    • New Year’s Day
    • Martin Luther King Jr.’s Birthday
    • Presidents’ Day
    • Memorial Day
    • Independence Day
    • Labor Day
    • Thanksgiving Day
    • Christmas Day

    Transfer Customers

    Hello Transfer Customers, Nice to meet you

    Welcome to TMS! We’re really happy you’re here. If you haven’t noticed already, we are a different kind of company. We speak a different language. We do business a different way. And we are on a mission to help grow happiness. Our goal is to help over 1 million families achieve and maintain the dream of homeownership over the next 10 years (we call it 1MHO+).

    We’re here to make dealing with your mortgage (and all that goes with it) as easy, stress-free, and as happy an experience as possible.

    So, you originated your loan with another lender, and then you were notified that you were being transferred to TMS…what’s that all about? Rest assured, we’re going to explain the nitty-gritty of what it means to have your mortgage transferred and what that means for the future of your mortgage.

    First things first, your previous servicer transferred your loan to TMS, and that means you’ve been “transferred to us.” TMS is your loan servicer now! You probably didn’t know this, but it’s common for one servicer to sell mortgages to another servicer. Your loan was absolutely not sold because of anything you did.

    And now that you’re with us, we want you to stay with us. We’re going to show you that being a TMS customer is awesome. We’re 100% your partner in this. And like with any long-term relationship, we’re going to do everything we can to make sure you’re treated right.

    FIND
    Buying or selling a home? As a Happinest Member, you could save up to $13,000.* You’ll also have access to top-rated Happinest-certified local agents, who know the best deals on the best homes for you. Learn more
    * Cash back reward is determined by the sale price of the home you are buying and/or selling. Reward offer limited in some states. Not available in AL, IA, LA, MS, or OK. Other restrictions apply.

    MANAGE
    Managing your mortgage just got easier. With the apptastic Happinest Mobile App you can make payments, download documents, and get account notifications. You’ll also have access to our exceptional Customer Care Specialists who are always happy to assist you with any and all mortgage issues. Not to mention access to education and inspiration on our Happy Hub blog!

    PROTECT
    TMS Insurance is the place to get multiple quotes from the country’s top insurers to get the right coverage at the most competitive prices for your home, mortgage, even your car or truck. It’s Protectirvana!

    Hopefully, your previous servicer sent you a letter of notification that included your official transfer date.

    If you didn’t receive a letter with an official transfer date, call your previous servicer and they should be able to help.

    Once your loan is in our system, (usually no more than 7 business days after the transfer date), you can register and create an account. If you’re not already logged in, get started by clicking here.

    Within 15 business days after your transfer date, you'll receive a welcome letter from TMS. The welcome letter will include your new loan number, TMS contact details and other information you'll want to know.

    Now that we are your new mortgage servicer, you might be asking yourself, "What else is going to change?"

    The honest answer is not a whole lot.

    The terms of your loan won’t change. Your interest rate, monthly principal and interest payment, and repayment timeframe will stay exactly the same to what they were with your previous servicer. (Unless you have an adjustable rate mortgage, in which case your interest rate will be subject to change under the terms of your mortgage. But don’t worry, if that’s the case, we’ll notify you ahead of time to let you know when and how your rate will change.)

    News Flashtastic:

    • During the first 60 days after your transfer, you will not accrue late fees or negative reporting to the credit bureaus.
    • For 60 days after your transfer date, your previous servicer will forward us any payments you make to them. (After that, you’re sending payments directly to TMS)
    • We’ll continue any workout or modification plan you had with your previous servicer. Please allow us up to 30 days from your transfer date for us to get all the paperwork.
    • Were you in the middle of selling or refinancing your home when the transfer occurred? Once your information is in our system, you can request a payoff quote.
    • Did you have an escrow account? We’ll continue making your tax and insurance payments without missing a beat.

    It’s going to be smooth sailing when it comes to basic account management like payments, statements, and escrow. Below, we’ve provided you with all the details you’ll need to get your account up and running with TMS. We think you're going to be pretty happy about how easy it is for you to manage it all.

    About 7 business days after your official transfer date you can register to get access to your account online. To register, you can use your new TMS loan number or the loan number you had with your previous servicer.

    We've got several payment options, and we’re sure you’ll find the one that works best for you.

    You can make payments with our Happinest Mobile App, Autopay, online, mail, phone.

    Get more details about your payrific payment options here.

    No problem, you can pay us with Autopay too.

    Were you paying with your bank’s "Bill Pay" service? All you have to do is change the “payee” information to:

    The Money Source Inc.
    ATTN: Cashiering
    500 South Broad St. Ste 100A
    Meriden, CT 06450

    Autopay can also be set up by enrolling on www.tmscustomer.com or requesting our ACH form with a rep by calling 866-867-0330.

    Your first TMS statement should arrive within 30 business days of your transfer date.

    Did you have an escrow account with your previous servicer? If you did, it was transferred to us with your loan. Your escrow payments will continue exactly as before.

    Don’t have an escrow account but want to start one? Just give us a call at 866-867-0330.

    You can view your escrow balance under “My Loan” on the upper right corner of your account page. To login click here.

    Are you still scratching your head in confusion about escrow? Well then, you’ll be happy to know that we've put together a complete escrow guide on our Happy Hub blog.

    TMS Insurance is the place to get multiple quotes from the country’s top insurers to get the right coverage at the most competitive prices. TMS Insurance is an insurance agency licensed affiliate of TMS (that’s just a fancy way of saying TMS Insurance is a part of the TMS family). Click here to learn more about TMS Insurance.

    Or, if you’d like to stay with your current insurance company, you’re going to need to let them know that your loan was transferred to TMS (we’re going to be sending them payments from now on). You’ll need to give them your new loan number and tell them to change the mortgagee clause on your account to:

    The Money Source Inc. ISAOA/ATIMA
    P.O. Box 1194
    Springfield, OH 45501-1194

    If you had life insurance or disability coverage (known as optional insurance products) through your previous servicer, they will not transfer. This means there’s a possibility that they could be cancelled. If you’d like to keep these policies, call your insurance provider to arrange direct payments for these policies.

    Mortgage Payoff

    Mortgage payoff – what you need to know

    Thinking of selling or refinancing your home? This means that you’ll need to find out your current mortgage payoff—this is the amount of cash you will need to satisfy the terms of your mortgage loan.

    Below you’ll find what you need to know to get your payoff quote as well as the options that you have for paying off your loan.

    Email: Please send an email stating that you’d like a payoff quote to [email protected]. Your email should include your loan number, the address of the property, and your up-to-date contact information. Note: The email address you use must match the one we have on file for your loan.

    Mail: If you’d like to request by mail, please send us a letter stating that you’d like a payoff quote. Be sure it includes your loan number, the address of the property, and your up-to-date contact information. Send your written request, signed by borrower(s) to:

    The Money Source Inc.
    ATTN: Cashiering
    500 South Broad St. Ste 100A
    Meriden, CT 06450

    Phone: 866-867-0330

    Fax: 203-285-8452

    News Flashtastic: A payoff statement will be emailed or mailed within approximately 2-5 business days of receipt of your request.

    Absolutely, a notification letter stating that your loan has been paid in full will be mailed within 3 business days once we receive your payoff funds. In addition, your updated mortgage agreement and security instrument (Mortgage or Deed of Trust) to the property will be sent to you within the timeframe required by your state.

    Charges for payoff statements vary by state and loan product type. Certain states require a fee while others do not. For more state-specific information, click here.

    Good question! Once your loan is paid in full, if there’s an escrow/surplus balance, it will be refunded and mailed to you within 20 business days (that’s 20 days from the date of the payoff transaction).

    To learn more about your escrow account and how it works, click here.

    News Flashtastic: If you’re moving, be sure to provide us your new mailing address so that we don’t send your refund to your old address!

    Escrow

    Ok, we’re not going to pretend like this is an easy one to understand. No one would say escrow is the most straightforward part of a home loan. But don’t worry, we’ve got you covered. Click here and get to know everything escrow!

    What is Escrow?
    Simply put, an escrow account is like a separate side account that’s there to cover your property taxes and/or your homeowner’s insurance. Think of it like a safe money stash that your lender holds for you to pay for property taxes and homeowner’s insurance. Learn more.

    Let’s break this down

    The review
    Once every year, we sit down and review your escrow account to make sure that it’s in excellent shape for the upcoming year. Learn more.

    Property taxes (paying just got easier)
    An escrow account takes care of another big payment you have: property taxes. And this makes paying your property taxes a cinch (and who doesn’t want that!). Learn more.

    Homeowner’s insurance (simplify your payment)
    The biggest advantage to having an escrow account is that your homeowner’s insurance is included in your monthly mortgage billing statement—making payments easier to manage. Learn more.

    You may pay the shortage in your escrow account by phone 866-867-0330 (a processing fee may apply) or by mailing it to the address below.

    The Money Source Inc.
    ATTN: Escrow
    500 South Broad St. Ste 100A
    Meriden, CT 06450

    Be sure to include your Escrow Account Shortage Payment Coupon. On the coupon, you have the opportunity to identify your payment option: Option 1, Pay shortage in full or Option 2, Make a partial payment towards shortage.

    If you do not choose Option 1 or Option 2, the shortage will be automatically spread over 12 months.

    If you are current on payments, you may also pay online. Click here to sign into to your account.

    And of course, if the shortage causes a financial hardship and you feel that you cannot afford the increased payment amount, please call our Customer Care Department at 866-867-0330 right away, and we’ll be happy to discuss options that are available to you.

    All you need to do is mail or fax your tax bill to the address below. Please include your loan number.

    The Money Source, Inc.
    ATTN: Property Taxes
    95 Methodist Hill Drive Suite 100
    Rochester, NY 14623

    F: 509-797-8963

    You may have received an overage check because your annual insurance premium, taxes (or both) were less than originally expected. Take a look at the escrow analysis statement included with the check—it will show you how the overage was calculated.

    Federal law requires that we return any surplus over $50 directly to you. However, if you would like to return the overage check to us and have it applied as a principal reduction, we can do that too! Please do so by endorsing the back of the check to TMS and send it to the address below.

    The Money Source Inc.
    ATTN: Cashiering
    500 South Broad St. Ste 100A
    Meriden CT, 06450

    1098

    If it does, you’re definitely not alone. This is a particularly confusing item for homeowners, so we made sense of it all in our Happy Hub blog (including pictures and easy-to-understand charts!).

    But here’s the basics for the 1098 forms:

    There are four types of IRS 1098 forms, including one that tells you how much you’ve paid in mortgage interest in the past year. The other forms are used to report charitable donations, tuition expenses, and student loan interest. You’ll receive your 1098 forms in the mail around tax time and use them to prepare your taxes.

    A standard Form 1098, or “Mortgage Interest Statement”, is used to report mortgage interest of $600 or more paid to a lender for a mortgage. It will tell you the amount you’ve paid in interest over the past year.

    All Form 1098s for the previous year are mailed by January 31st.

    News Flashtastic: For federal income tax purposes, a mortgage is a loan secured by your main home or second home. It includes, but is not limited to, first and second mortgages, home equity loans, and refinanced mortgages.

    Homeowner's Insurance

    Your guide to homeowner’s insurance

    The amount of homeowner’s insurance (which is a type of property insurance) required is the amount needed to cover the cost of rebuilding/replacing your home. For example: if your unpaid principal totals $90,000, you need to carry insurance totaling at least $90,000.

    Of course, we always recommend speaking to your insurance agent to make sure you get the coverage that’s right for you.

    Wondering if you have to have homeowner’s insurance? The answer to this is Yes, you do. Your loan requires you to have enough insurance to, at the very least, cover the remaining principal on your loan/or loan balance.

    News Flashtastic: Still shopping for homeowner’s insurance? You could reach a state of perfect happiness knowing your home is insured with TMS Insurance. That’s what we call Protectirvana. Click here to learn more about TMS Insurance.

    If you have a government loan, your insurance premium must be collected and paid with an escrow account with TMS. Want to learn more about escrow and how it works? Click here

    News Flashtastic: To request the removal of your escrow account, please send in a written request to [email protected]. Please note: certain requirements may need to be met to qualify for the escrow account removal.

    It’s important to note that in some situations your loan may not be eligible for escrow removal. If you have an FHA-insured mortgage, you must maintain the escrow account for the life of the loan. Again, it’s always best to speak to your insurance agent about your unique situation.

    Yup, you can choose your own insurance carrier. However, we have some standards they must meet in order to make sure they’re providing you with the protection you need and deserve (because there are always bad apples in the bunch, and we don’t want you to get stuck with one).

    We will approve a carrier as long as it maintains one of the following ratings as published in the A. M. Best Company’s Insurance report: a B or better policyholder rating or a 6 or better financial rating.

    Of course you can. If you do change your carrier, please notify us by sending a copy of the front page(s) of your new insurance policy. Make sure the page(s) include the insured’s name, address, policy period, location of premises, policy limits, and any other key information.

    You can send the page(s) to the address below.

    The Money Source Inc. ISAOA/ATIMA
    PO Box 1194
    Springfield, OH 45501-1194

    Fax: 937-525-8897

    News Flashtastic: Some carriers may require a full year’s premium to be paid at time of the change.

    Don’t worry, we can take care of this. If there have been changes made to your insurance policy or carrier, we’ll need to know right away, so that we can keep your escrow account up to date. Here’s what you need to do:

    • Visit mycoverageinfo.com. You will be asked to enter MS194 and your loan number. Then you’ll be asked to upload confirmation of your changes. Don’t sweat it, it’s easy!
    • You can fax confirmation of your updates to 937-525-8897. Please write your loan number on the fax cover sheet.
    • Or you can mail confirmation of your changes to the address below:

    The Money Source Inc. ISAOA/ATIMA
    PO Box 1194
    Springfield, OH 45501-1194

    If you have questions about insurances changes. We are always more than happy to help you figure out the not-so-easy-to-figure-out details. Please give us a call at 866-867-0330.

    News Flashtastic: The below Mortgagee Clause must be on your required insurance policy. If you don’t see it, call your insurer and they should be able to help you.

    The Money Source Inc. ISAOA/ATIMA
    PO Box 1194
    Springfield, OH 45501-1194


    The types of insurance & requirements

    Homeowners insurance (which is a type of property insurance) protects you in the event that your home or belongings are damaged, stolen, or destroyed. Below we’ve provided you with an overview of the most common types of homeowner’s insurance. We are not suggesting that you need all of these.

    If you’re not sure about your requirements, call your insurance carrier—they’ll be able to help you figure this out.

    Flood insurance is required if you live in a Special Flood Hazard Area (SFHA). This is an area with a special mudflow, and/or flood related erosion hazard.

    Depending on your property's location, you may need to carry flood insurance. This is determined at the time of loan closing. Flood policies generally need to meet the lower of the following:

    The full replacement cost of the dwelling and insurable improvements made to it, or the maximum allowed through the National Flood Insurance Program, which is $250,000.

    If you live in a high-risk coastal state, or Hawaii, you may be required to have separate windstorm/hurricane insurance.

    CONTENTS INSURANCE

    This covers your personal possessions—for example, furniture, electronics, clothes, et al. While it’s not required, it’s a good idea to have contents insurance just in case the unexpected happens—for example a home burglary or fire. This type of insurance is optional and not included in your payments for your escrow account.

    If you live in a townhouse, condominium, or other residential area that requires you to pay a homeowner’s association (HOA) fee, you may also be required to purchase extra insurance related to your HOA. In most instances, your insurance fees will be included in your monthly HOA fees.

    It’s important to note that these policies will likely have restrictions, and you may want to consider additional coverage for items not covered in you HOA policy.

    “Subsidence” is the collapse of land or loss of property due to the sinking of a man-made mine. If you live near an old coal mine, your home is required to have subsidence insurance. If you live in such an area, usually, this coverage is added automatically. If you’re not sure if you need this coverage, call your insurer and they should be able to help you.

    If your homeowner’s insurance coverage has lapsed or if we’ve been notified of a policy cancelation, we are required to obtain hazard insurance coverage on your behalf. Often this coverage is more expensive than the coverage you are able to purchase on your own. In addition, it only covers the structure. Your personal property is not included in such coverage. Hazard insurance will always be paid out of escrow

    So, yeah, we definitely don’t want this to happen.

    The best way to make sure this doesn’t happen is to make sure your premiums are timely paid, and your policies are timely renewed. The great news is that we always send a reminder if your policy is about to expire. And, if you’re facing lender-placed insurance, we’ll provide you plenty of notice and the opportunity to obtain your own coverage first.

    Requesting Written Material

    Please send a written request, signed by all borrower(s), via mail or fax:
    The Money Source Inc.
    500 South Broad Street, Suite 100A
    Meriden, CT 06450

    Fax: 203-285-8452

    Or, you can email a written request without being signed to [email protected]

    Natural Disasters

    If there has been a natural disaster in your area, we hope you, your loved ones, and your home are all safe. If you were impacted in some way, we’d like to know how we can help.

    If you have other questions or have concerns about making your payment because of this situation, please call our Customer CAREologists at 866-867-0330. Our hours are Monday - Friday, 8am - 9pm EST, and Saturday, 8am - 12pm, EST.

    Your insurance company will provide initial assistance and determine the amount of the claim payment(s) based on your property damage. Once you’ve received your claim checks, please have them endorsed by all parties named. Then mail all checks to our Insurance Processing Center:

    Regular Mail:
    The Money Source Inc.
    ATTN: Insurance Processing Center
    P.O. Box 6501
    Springfield, OH 45501-6501

    Overnight Mail:
    The Money Source Inc.
    ATTN: Insurance Processing Center
    One Assurant Way
    Springfield, OH 45505

    Once we’ve received your endorsed checks, we will deposit them into a restricted escrow account. Then, as needed, funds will be released for repairs to be made to your property. For more information, please go to our TMS Loss Draft FAQ.
    If you are in need of insurance information, such as the name, policy, or phone number of your insurance company, please call 877.521.0263. If you have received proceeds from an insurance claim or have questions about a claim, please call 800-213-9975. Our hours are Monday - Friday, 8am - 8pm EST.

    Although you can’t prevent a natural disaster from happening, you can be prepared for one. Gearing up for a catastrophe before it happens can help protect you, your family, and your home. To help keep you and your loved ones safe, we’ve provided tips on how to prepare for some of the most common natural disasters.

    Tornado

    With wind speeds from 65mph to over 200mph, tornadoes are one of the most destructive natural disasters. They can also strike with little, or no warning. And, although tornadoes are most common in the Plains States, they can happen anywhere. Being prepared is the best thing you can do to stay safe.

    • Choose a safe place in your home where you, your family, and your pets will go to during a tornado: a storm cellar, basement, or an interior room on the lowest floor with no windows.
    • Be aware of how your community communicates tornado warnings. Many communities use outdoor sirens while others rely on media and smart phones to alert residents.
    • Sign up for severe weather alerts and warnings.
    • Collect and safeguard critical documents and records ahead of time.
    • Prepare an emergency backpack or storage tub to hold basic supplies, including: bottled water, non-perishable food, flashlight, battery-operated radio, extra batteries, first-aid supplies, wrench or pliers to turn off utilities, and a sleeping bag or warm blanket for each person in the home. For a complete list of FEMA’s recommended supplies, visit here.
    • Visit ready.gov/tornadoes for more info.

    Hurricane

    Hurricanes are some of the largest and most powerful storms nature can produce. The official Hurricane Season begins on June 1 and ends on November 30, but these powerful intense storms can occur before and after the official season. A hurricane can be a destructive force of nature, that’s why it’s crucial to be prepared.

    • Prepare to evacuate by learning evacuation routes, shelter plans, and testing your family’s emergency communication plan.
    • Sign up for severe weather alerts and warnings.
    • Protect your property by installing sewer backflow valves, boarding your windows, reviewing insurance policies, and cataloging belongings at least once a year.
    • Keep important documents and records in waterproof container.
    • Prepare an emergency backpack or storage tub to hold basic supplies, including: bottled water, non-perishable food, flashlight, battery-operated radio, extra batteries, first-aid supplies, wrench or pliers to turn off utilities, and a sleeping bag or warm blanket for each person in the home. For a complete list of FEMA’s recommended supplies, visit here.
    • Visit ready.gov/hurricanes for more info.

    Flooding

    According to FEMA, flooding is the most common natural disaster in the United States. Flooding can happen anywhere and occur during any season. It’s particularly important to be prepared for flooding if you live in a low-lying area near a body of water, such as a river, stream, or culvert; along a coast; or downstream from a dam or levee.

    • Get familiar with the types of flood risk in your area. For more information, visit FEMA’s Flood Map Service Center.
    • Prepare to evacuate by learning evacuation routes, shelter plans, flash flood response, and testing your family’s emergency communication plan.
    • Sign up for your community’s warning system.
    • Collect and safeguard critical documents and records ahead of time.
    • Prepare an emergency backpack or storage tub to hold basic supplies, including: bottled water, non-perishable food, flashlight, battery-operated radio, extra batteries, first-aid supplies, wrench or pliers to turn off utilities, and a sleeping bag or warm blanket for each person in the home. For a complete list of FEMA’s recommended supplies, visit here.
    • Visit ready.gov/floods for more info.

    Landslide

    A landslide is the movement of a mass of rock, debris, or earth down a slope. When landslides occur near populated areas, they present major hazards to people and property. Landslides cause an estimated 25-50 deaths and $3.5 billion in damage each year. Landslides can happen quickly and with little or no warning. The best way to prepare is to stay informed about occurrences near your home that could trigger a landslide.

    • Know the landslide risk in your area. Contact local officials to learn local landslide hazards.
    • Sign up for your community’s warning system.
    • Prepare to evacuate by learning evacuation routes, shelter plans, and testing your family’s emergency communication plan.
    • Prepare an emergency backpack or storage tub to hold basic supplies, including: bottled water, non-perishable food, flashlight, battery-operated radio, extra batteries, first-aid supplies, wrench or pliers to turn off utilities, and a sleeping bag or warm blanket for each person in the home. For a complete list of FEMA’s recommended supplies, visit here.
    • Visit ready.gov/landslides-debris-flow for more info.

    Wildfire

    A wildfire is an unplanned, unwanted fire burning in a natural area, such as a forest, grassland, or prairie. Wildfires can occur anytime of the year, but they’re more likely to occur during periods with little or no rainfall. If you’re in an area surrounded by brush, grassland, or forest, preparing is the best way to protect yourself, your loved ones, and your home.

    • Sign up for your community’s warning system.
    • Check for, and remove, fire hazards in and around your home, such as dried out branches, leaves and debris.
    • Prepare to evacuate by learning evacuation routes, shelter plans, and testing your family’s emergency communication plan.
    • Learn fire safety techniques and teach them to your family.
    • Prepare an emergency backpack or storage tub to hold basic supplies, including: bottled water, non-perishable food, flashlight, battery-operated radio, extra batteries, first-aid supplies, wrench or pliers to turn off utilities, and a sleeping bag or warm blanket for each person in the home. For a complete list of FEMA’s recommended supplies, visit here.
    • Visit ready.gov/wildfires for more info.

    According to FEMA (Federal Emergency Management Agency), “disaster assistance may be provided as financial assistance to individuals and families whose property has been damaged or destroyed as a result of a federally-declared disaster, and whose losses are not covered by insurance.” Learn more about available disaster assistance here.

    There are three ways to register for FEMA assistance:

    • You may apply online at DisasterAssistance.gov or by downloading the FEMA app on your smartphone.
    • Call the toll-free FEMA Helpline at 1-800-621-FEMA (3362).
    • You can also register at a FEMA Disaster Recovery Center. To find out if a Disaster Recovery Center has been set up in your area visit here.

    Mortgage Assistance

    We get it, life happens. If you’ve hit one of life’s speedbumps and are struggling to pay your mortgage, we're here to help you get back on track. Always remember, you are part of the Happinest family, and you're never in this alone.

    There are several options available to homeowners going through this.

    First things first: our dedicated, compassionate, and expert Customer CAREologists at 866-867-0330 are always standing by to hear from you. They’re there to help find the solutions that are right for you that will help you get back on track.

    The most important thing to remember is don’t delay: the sooner you call us, the more we’re able to help you come up with a plan and next steps.

    YOUR OPTIONS

    Our goal is to explore all solutions that will help you keep your home—including repayment plans, refinancing, and loan modification.

    Also, we participate in certain government programs that help homeowners who are going through challenging times.

    There may be some instances when the only viable solution is for a homeowner to leave their home. In these cases, we may be able to help avoid the foreclosure process with a short sale or "Deed-In-Lieu" agreement. As your servicer, we are here for you and will continue to work with you in order to provide the assistance you need during this difficult time.

    And as always, our Customer CAREologists are available to discuss your options with you and help you determine the solution that’s right for you. Call 866-867-0330. Remember, the sooner you call us, the more we can help you.

    REPAYMENT PLAN

    Did you fall behind on your payments due to a temporary hardship, like an unexpected medical bill? We understand, life happens. If that’s the case, but now you’ve recovered and are able to pay your amount due each month, you may be a candidate for a repayment plan.

    This is a great option if you qualify. This means that instead of owing it all at once, your late amount due will be spread over a manageable timeframe until you’ve paid it all off. This will mean a small increase in your future monthly payments until you are all caught up.

    A LOAN MODIFICATION

    Are you facing a long-term hardship? If so, a good option for you may be modifying your loan so it has more manageable terms.

    The difference between refinancing and loan modification is this: When you refinance you replace your existing loan with a new one. While a loan modification keeps your existing loan but changes its terms.

    If you qualify for loan modification, it could help in a few different ways. First, we’ll see if we can reduce your monthly payment. Another option is that we may be able to lower your interest rate. And lastly, there’s the option to extend the loan's time frame—this might lower your monthly payments.

    A SHORT SALE

    Unfortunately, it’s possible there isn't a financially viable way for you to keep your home. Or maybe, you've made the choice to leave, based on current circumstances. If this is the case, you don’t necessarily have to go through a foreclosure (which is always difficult).

    Here are some other options:
    A short sale is when, pending on the approval from your lender, you sell your home for less than you owe on the mortgage.

    If you're approved and able to sell your home, any sales proceeds will be applied toward your mortgage debt.

    This is a good option because a short sale can have less of a negative impact on your credit score than a foreclosure.

    Once we’ve discussed your options with you and agree that a short sale is the best way for you to go, your realtor will need to begin the process.

    A DEED-IN-LIEU OF FORECLOSURE

    A Deed-In-Lieu of foreclosure is an arrangement where you voluntarily turn over ownership of your home to the lender to avoid the foreclosure process. And it can have less impact on your credit score than a foreclosure.

    A Deed-In-Lieu also gives you more time to arrange your move and transition to your new residence.

    If and when the time comes, call our Customer CAREologists at 866-867-0330, and they will help walk you through the process.

    We know that if you're considering applying for mortgage assistance, things in your life might be a little stressful right now. And we definitely don’t want the application process to add to your stress. That’s why you’ll find this process to be straightforward and easy to understand.

    Click here for the Mortgage Assistance Application.

    Or mail your application to:
    The Money Source Inc.
    500 S. Broad Street, STE 100A
    Meriden, CT 06450

    After you’ve completed your application, we’ll be in touch with you to let you know the documents we’ll need to finish your application.

    We’re always happy to help you fill out your application and/or help you get your documents in order. If you need help, call 866-867-0330. And remember, you need to complete your application and turn over all documents before we can discuss your options.

    HOW TO APPLY FOR MORTGAGE ASSISTANCE

    Sometimes life gives you more at you than you can handle. We get that. And we’re always here for you. Our straightforward mortgage assistance process is designed to help you get through this difficult time. Once you’ve filled out the application and we’ve received the necessary documentation, we can begin to give you the financial relief you need. We recommend that you consult with your attorney if you're currently engaged in active bankruptcy.

    Click here to find the form you need to fill out. If you haven’t signed up for your online account yet, click here to get started. If you need assistance or have questions, call our Customer CAREologists at 866-867-0330.

    APPLICATION TIMEFRAME

    The most important thing to keep in mind when applying for mortgage assistance is that the sooner you do it, the better.

    Let us repeat that: the most important thing to do is contact us right away. The sooner you call, the more options you’ll have.

    And, if you're already going through the foreclosure process, please get your application and documents to us as soon as possible. Remember, the sooner we get your application, the more likely it is that we can help you.

    Again, call us with any questions at 866-867-0330.

    In order to start this process and get you the assistance you need, we’re going to need some documentation.

    Every situation is unique, so look over the mortgage assistance application and review its contents to get an idea of which documents you will need to turn over for us to process your application.

    Of course, after we receive your filled-out application, we'll contact you and notify you via mail with a full list of what we need.

    Call us if you need help finding the necessary documents 866-867-0330. We’re always happy to help.

    Here is a list of some of the most common documents required for a mortgage assistance application:

    GENERAL / BACKGROUND DOCUMENTS:

    IRS-4506T Form—This document gives TMS authorization to request a copy of your federal tax returns from the IRS. Download here

    WE’LL NEED PROOF OF INCOME DOCUMENTS

    IF YOU RECEIVE HOURLY OR SALARY WAGES:

    We’ll need a minimum of two pay stubs, dated within the last 90 days, that cover at least 30 consecutive days of work. These pay stubs should include your name, your employer's name, the pay period, and your year-to-date earnings and deductions. If your official pay stubs do not contain the above information, you’ll need to include a letter of explanation.

    IF YOU ARE A CONTRACT EMPLOYEE OR SELF-EMPLOYED:

    • We’ll need your most recent quarterly or year-to-date Profit and Loss statement, signed and dated. Please make sure that these documents include your business name, earnings period, and itemized business expenses.
    • We’ll also need a copy of your most recent federal tax return with all schedules signed and dated.
    • Please include a complete statement of wages paid.
    • If your documented income is associated with a corporation or partnership, please provide us with the form K1 from the business tax return.

    IF YOU RECEIVE INCOME FROM RENTAL PROPERTIES:

    • We’ll need copies of all your rental lease agreements (signed and dated). These documents should include the property address, rental amount, borrower and tenant signatures and start/end dates of the lease. If these documents do not contain some or all of this information, you’ll need to include a letter of explanation.
    • Please include documentation of principal, interest, property taxes, and insurance for each rental property.
    • And we’ll also need a copy of your most recent personal federal tax return, with all schedules signed and dated.

    IF YOU RECEIVE BENEFIT INCOME SUCH AS SOCIAL SECURITY, PENSION OR RETIREMENT INCOME, OR ANNUITY INCOME:

    • We’ll need a copy of your current award letter(s) or other proof of expected monthly benefit income.
    • Please include 2 months' proof of receipt of your benefit income, dated in the last 90 days. These may include bank statements, transaction histories, or copies of checks.
    • You’ll need to include a letter of explanation if there are any discrepancies between your expected and actual benefit income as documented above.

    IF YOU RECEIVE CHILD SUPPORT OR ALIMONY AND WANT THIS INCOME TO BE CONSIDERED IN YOUR APPLICATION:

    • We’ll need court-recorded documentation of your expected child support and/or alimony income.
    • Please provide 2 months' proof of receipt of this income, dated in the last 90 days. These may include bank statements, transaction histories, or copies of checks.
    • You’ll need to include a letter of explanation if there are any discrepancies between your expected and actual child support and/or alimony income as documented above.

    IF YOU RECEIVE INCOME FROM A SOURCE NOT LISTED ABOVE:

    • We’ll need a detailed letter describing the income source, amount, and frequency.
    • Please provide 2 months' proof of receipt of the income, dated within the last 90 days.

    If your home has occupying non-borrowers, you guessed it, we’re also going to need some documents from them.

    An occupying non-borrower is someone who lives in your home and contributes towards the mortgage but is not on the loan (for example a roommate or a renter).

    We’ll need the following form any occupying non-borrowers:

    • A completed UBAF form.
    • Proof of their income plus appropriate documentation as listed above.
    • If their contribution to the mortgage is less than 100% of their income, we’ll need a contribution statement from them. (This is a signed letter where they explain that they live in the home. The letter also confirms the amount they contribute to the mortgage each month.
    • For the non-borrower contributor credit report authorization form, please click here

    HOW TO SEND US YOUR DOCUMENTS

    Please scan your documents and email them to:

    [email protected]

    Or upload to us once you log into www.TMSCustomer.com.

    Or fax them to 203-309-6013.

    Or, you can mail copies of your documents to:

    The Money Source Inc.
    500 S. Broad Street, STE 100A
    Meriden, CT 06450

    Whichever way you choose to send your documents to us, please be sure to include a brief description and include your name, loan number, property address, and best current contact information.

    There are lots of people out there who will try to take advantage of homeowners seeking help with their mortgage. What’s the best way to avoid being scammed by these predators? Be on guard and be informed.

    These folks are tricky. They might be promising immediate relief from foreclosure. They may demand cash for counseling services (when HUD-approved counseling agencies provide the same thing for free). They may want a credit card number with the promise to reduce your payments or something. Bottom line, if it sounds too good to be true, it probably is.

    If you receive anything that seems fishy, including phone calls, letters, or emails regarding your mortgage, please call us right away at 866-867-0330. Below are common “red flags” that could signal a scam:

    How to Spot a Scam – beware of a company or person who:

    • Requests for up-front or advance payment to begin the modification, refinancing, or reinstatement application process
    • Have phone numbers without a toll-free area code (for example, 800 or 866)
    • Have a trial or modification agreement from the “Underwriting Department”
    • Request to start making payments to a third party instead of TMS
    • Guarantees they can stop a foreclosure or get your loan modified.
    • Anyone who pressures you to make any commitments that you don’t fully understand
    • Anytime you see the phrases “government approved” or “official government” in descriptions of loan modification offers
    • Asks you to release personal financial information online or over the phone and you have not been working with this person and/or do not know them.

    How to Report a Scam

    • Call 800-855-HOPE (4673) and tell the counselor that you believe you have been scammed, or you know of a scam.
    • Go to preventloanscams.org and fill out the Loan Modification Scam Prevention Network’s (LMSPN) online complaint form to get more info on how to fight back. You can also fill out the form and fax, email, or send it to any of the addresses that are included.

    One last thing: if you’ve been led to believe that you’ve been making payments towards a trial or modification agreement, but we have no record of the payments, then this may be a scam. If this happens, please call us right away at 866-867-0330.

    There are also lots of outside agencies that are great sources of potential help. If you think you might qualify, we’re more than happy to get you in touch with them.

    HARDEST HIT FUNDS

    The Hardest Hit Fund is a federal fund that includes multiple programs developed for homeowners faced with different types of financial hardship.

    TMS currently participates in certain HHF programs in Washington, D.C., Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, and Tennessee.

    If you live in one of these states, call us at 866-867-0330 and we’ll go over your options with you.

    Learn more about HHF and its programs here.

    MILITARY

    First and foremost: thank you for your service. It’s not easy to be on active duty and have to wonder if you’re falling behind on your mortgage or losing your home. Don’t worry, we’re here to help.

    Under the Servicemembers Civil Relief Act, active duty U.S. military members are eligible to receive financial relief and protections.

    If your loan originated before your military service, you may be entitled to protection from foreclosure during your active service and up to 12 months following it.

    Also, if you have a high interest rate, you may be eligible to lower it to 6%.

    YOU MAY BE ELIGIBLE FOR SCRA BENEFITS

    • The SCRA covers all active duty service members, reservists and members of the National Guard while on active duty.
    • The protection begins on the date of entering active duty and generally terminates within 30 to 90 days after discharge.

    Think you may qualify for protection and benefits under the SCRA? Please send a copy of your active duty orders to:

    The Money Source Inc.
    500 S. Broad Street, STE 100A
    Meriden, CT 06450

    Or fax them to 203-309-6013.

    We'll be sure to let you know if we need any additional information.
    Click here to learn more about SCRA benefits.

    Falling behind on your mortgage is tough, but it isn’t impossible to get back on track! And here are some more mortgage assistance programs that might just be able to give you the exact help that you need.

    HUD

    The United States Department of Housing and Urban Development (HUD) has a number of programs that can help assist you if you’re struggling with making your monthly mortgage payment. What’s unique about HUD is that they have trained housing counselors who will talk to you about your unique situation and go over all options that could work for you. Click here to find a HUD counselor.

    HUD FORECLOSURE AVOIDANCE COUNSELORS

    If you’ve applied but haven’t qualified for the programs TMS offers, we recommend that you talk to a specialized HUD Foreclosure Avoidance Counselor (this service is free of charge). Find a HUD counselor here.

    OTHER HUD RESOURCES

    HUD can help if you're in the unfortunate situation of having to leave your home without having another place to stay. Their search tools can help you find affordable apartments across the country.

    HUD can also help you find out if you’re eligible for public housing, as well as help you find available units. Click here to learn more.

    Are you currently out of work? Below you’ll find resources to help you find a new job. We’ve also included resources if you need help during your unemployment.

    CAREERONESTOP

    Sponsored by the U.S. Department of Labor, CareerOneStop offers easy-to-understand workforce information and is a comprehensive resource for finding a new job or even a new career.

    UNEMPLOYMENT INSURANCE

    The Federal-State Unemployment Insurance Program provides unemployment benefits to eligible workers who meet state eligibility requirements (as determined by state law). Click here to learn more.

    Lock Box (payments only):
    P.O Box 650094
    Dallas, TX 75265-0094

    Mailing address changes and written request by mail or fax:
    The Money Source Inc.
    500 South Broad Street, Suite 100A
    Meriden, CT 06450
    Fax Number: 203-285-8452

    Overnight address:
    The Money Source Inc.
    500 South Broad Street, Suite 100A
    Meriden, CT 06450

    Notices of Error / Information Requests:
    The Money Source Inc.
    500 South Broad Street, Suite 100A
    Meriden, CT 06450

    Fannie Mae Escalated Complaints:
    When TMS is in receipt of an escalated complaint, as defined by Fannie Mae, we will send an acknowledgment notice within three (3) business days, followed by a response within 30 business days

    TMS reports borrower payment history (both positive and negative) at month-end to the Credit Bureaus. If a scheduled payment is not received by 11 p.m. ET on the last business day of the month, the payment will be reported as received 30 days past due. Making your payment before the 30-day-late payment deadline is important if you want to avoid a possible late fee and protect your credit score.

    By the way, TMS offers a variety of ways to assist in making payments easier for our Happinest customers. If you’d like to review the options, log in to your Happinest account or give us a call us at 866.867.0330 to speak with a customer Careologist.

    Mortgage Insurance

    Mortgage Insurance, or MI, is an insurance policy that protects a lender in the event that the borrower defaults on the loan.

    News Flashtastic: Once you've achieved 20% equity in your home, you may be eligible to cancel your MI (with the exception of FHA loans, which do not allow the removal of MI).

    Depending on the type of loan you have, you will pay for mortgage insurance one of two ways: Private Mortgage Insurance (known as PMI) or FHA Mortgage Insurance (known as MIP).

    BORROWER REQUESTED CANCELLATION

    You may be eligible to request the cancellation of your PMI one of two ways:

    • When your loan-to-value (or LTV) ratio is scheduled to reach 80% of the Original Value* of the property (regardless of outstanding balance on this date)
    • When the principal balance of your mortgage reaches 80% of the Original Value* of the property (based on actual payments)

    Additional requirements:

    • You must be current on your loan
    • All payments in the last 12 months must have been paid no later than 30 days past the due date
    • All payments in the last 24 months must have been paid no later than 60 days past the due date
    • You must certify that the property is not subject to a subordinate lien
    • You must satisfy any requirement of the holder of the mortgage for evidence that the value of the property has not declined below the original value

    * Based on Original Value, not current value.

    AUTOMATIC TERMINATION

    We will automatically cancel your PMI when the principal balance of the mortgage is scheduled to reach 78% of the Original Value* of the property (regardless of outstanding balance on this date).

    If your loan reaches 78% as defined above and your loan is not current, Mortgage Insurance must be terminated once the loan becomes current.

    * Based on Original Value, not current value.

    Please send your PMI cancellation requests to:

    The Money Source Inc.
    ATTN: Customer Care
    500 South Broad St. STE 100A
    Meriden CT, 06450

    Please include an explicit request to cancel PMI, your loan number, the date, and the signatures of all borrowers.

    If you have questions about your specific requirements to request a cancellation, please call 866-867-3003.

    Forbearance

    If you’re experiencing short-term financial hardship and are having a difficult time making your mortgage payments, forbearance can offer temporary relief by reducing or suspending your payments for a specific period of time. While every borrower’s situation is different with regards to forbearance, we put together a few of the most frequently asked questions and answers to help you.

    First of all, during the forbearance period payments can be reduced or suspended completely. In addition, late charges and credit reporting are suppressed, but only for the duration of the plan. Since forbearance plans are temporary (typically three months, but they can be longer), your full outstanding payments will be due at the end of the forbearance. If you haven’t applied for and have received approval for a different loss mitigation option at that time, credit reporting will begin again, and you would need to repay the full outstanding amount to be considered current.

    At the conclusion of the forbearance period that balance of your payments, which were reduced or suspended, will be due. If you’re still experiencing hardship and your financial situation is uncertain, we’d like to help in any way possible. Just give us a call at 866.867.0.330 and we’ll be glad to discuss additional options, such as a loan modification or a repayment plan.

    Yes. We’re required to send you a billing statement every 30 days.

    Yes, absolutely! A full payment is preferable. The reason being is that any payment other than a full payment will not be applied until a full payment is received. While you’re not required to make payments or even reduced payments during the plan, we appreciate any attempt to do so because it can make it easier for you to catch up and avoid possible damage to your credit score.

    Yes, of course you can. Should your financial situation improve prior to the end of your forbearance period, you may pay your past due payments and resume normal payment activity. Just give us a call at 866.867.0.330 and we’ll be happy to cancel the forbearance plan for you.

    It’s possible. And that’s why we ask that you contact us one month prior to the end of your forbearance plan. This gives us time to reassess your hardship and financial status and it helps us determine your eligibility for additional options, which may include an extension of the forbearance plan, a loan modification or a repayment plan. Bear in mind, these options may have additional eligibility requirements.

    Yes, you will. Due to investor guidelines we are required to send certain letters for compliance reasons. You will not be required to make payments during the plan and TMS will not assess late fees.