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.

Please do not send cash. We are unable to accept Cash for your payments and ask that in all cases you refrain from sending Cash. If you need to use Cash to make your monthly mortgage payment please visit your local money gram location. Please refer to the MoneyGram section

Please be aware we are unable to hold any post-dated checks. Any post-dated checks will be processed based on the effective date they are received.

Go to MoneyGram locations to find a location near you. To submit your payment with MoneyGram, utilize: Receiver Code #15543-Servicing Division, provide your loan number and use location: Meriden, CT

Please do not send cash. We are unable to accept Cash for your payments and ask that in all cases you refrain from sending Cash. If you need to use Cash to make your monthly mortgage payment, please visit your local money gram location. A fee may apply.

If funds are sent without specifying how additional funds should be applied, funds will be processed based on the following payment hierarchy: Any outstanding payments due to bring your loan current, one additional prepaid monthly payment, outstanding late fees (except in NY), outstanding bank return fees, other outstanding fees, escrow advances, corporate advances, principal reduction.

*Please note, based on your loan status a different payment hierarchy may apply.

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
3138 E. Elwood St
Phoenix, AZ 85034

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.

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

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.

Borrower Portal: The easiest way to request a payoff quote is through our borrower portal. Under the Loan Information section you will find a payoff request option that will take you to our payoff request form. Simply, fill in the information on the form and we will send you your payoff quote.

Third Party Portal: submit your request electronically via our third-party portal: https://www.tmscustomer.com/ThirdPartyPayoff

Phone: 866-867-0330

News Flashtastic: A payoff statement will be emailed or mailed within approximately 7 business days of receipt of your request or within the timeframe required by state law if less than 7 days

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 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!

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.

A shortage means an amount by which a current escrow account balance falls short of the target balance at the time of escrow analysis.

If your escrow account analysis discloses a shortage of less than one month's escrow account payment, then we may require you to repay the shortage amount within 30 days. If your escrow account analysis discloses a shortage that is greater than or equal to one month's escrow account payment, then we may require you to repay the shortage in equal monthly payments over at least a 12-month period.

A deficiency is the amount of a negative balance in an escrow account.

If your escrow account analysis confirms a deficiency, then we may require you to pay additional monthly deposits to your account to eliminate the deficiency. If the deficiency is less than one month's escrow account payment, then we may require you to repay the deficiency within 30 days. If the deficiency is greater than or equal to one month's escrow payment, we may require you to repay the deficiency in two or more equal monthly payments.

Please see your Escrow Analysis Statement for further details.

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
3138 E. Elwood Street
Phoenix, AZ 85034

The repayment option allowing for payment over 12 months for shortages that are greater than or equal to one month's escrow account payment is derived from federal regulations governing escrow shortages and deficiencies. Although a lump sum payment is not a required option, TMS will allow for it upon customer request. If you would like to repay your shortage in a lump sum, you may do so using one of the payment options below.

The repayment option allowing for payment over 12 months for shortages that are greater than or equal to one month's escrow account payment is derived from federal regulations governing escrow shortages and deficiencies. Although paying in less than 12 months is not a required option, TMS will allow for it upon customer request. If you would like to repay your shortage in less than a 12-month period, please contact our Customer Care Center at (866) 867-0330.

• You may pay the shortage in your escrow account by phone 866-867-0330 (a processing fee may apply).
• If you’d like to pay the shortage in your escrow account online and you are current on payments, you may also pay online. Click here to sign into to your account.
• For additional ways to pay, see your monthly billing statement.

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.

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.

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 ccare@themoneysource.com. 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

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.

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 vom@themoneysource.com

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.

• FEMA Disaster Assistance Registration: 1-800-621-3362
• FEMA Disaster Fraud Hotline: 1-866-720-5721
• Homeowner’s HOPE Hotline: 1-888-995-HOPE (4673)
• Disaster Distress Hotline: 1-800-985-5990
• DisasterAssistance.gov
• FEMA.gov/disasters
• Spanish language instructions: disasterassistance.gov/es

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.

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:

lossmitigation@themoneysource.com

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, 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.

As a servicer of loans backed by the federal government, which include FHA, VA, USDA, Fannie Mae, and Freddie Mac loans, and in accordance with provisions of the recently passed CARES Act, if customers are experiencing a financial hardship related to the corona virus pandemic we are permitted to allow these requesting borrowers to temporarily suspend mortgage payments. This is known as a forbearance. In a nutshell, a forbearance provides an opportunity to pause mortgage payments for a set period of time.

You should know that during a forbearance, no payments are expected; however payments will still be accepted. There will be no late charges assessed to your account, and negative credit reporting is suppressed. The purpose of a forbearance is to offer temporary relief by suspending payments for a set period of time for those impacted by COVID-19.

However, it is important to understand that once the forbearance plan expires, the total amount of all outstanding monthly mortgage payments that were suspended during the forbearance period, as well as any previously delinquent amounts, will become due, unless further assistance is requested and addressed through post-forbearance options, and credit reporting will resume.

For example: Let’s say your monthly mortgage payment is $1,000, including principal, interest, taxes, and insurance. If you choose to enter a 90-day forbearance plan, you won’t owe that $1,000 for the next three months. But at the end of the 90-day plan, you’ll owe $3,000 (or $1,000/month for the past 3 months) to become current again.

This can result in payment shock for some, which is why as your servicer we will remain in contact with you during your forbearance period to discuss your unique situation, including what options are available to you at the end of your forbearance term.

While it is true that forbearances can be offered for up to 180 days, and extended out for another 180 days, it’s important to understand that a forbearance effectively kicks payments “down the road”. When the forbearance period ends, you’re obligated to deliver all the missed payments, in addition to the current payment in a lump sum. The longer the forbearance period, the more missed payments you’ll have to repay, which means a larger sum that will become due all at once. That can create a tremendous financial burden, which may be too much for some to bear. If not handled responsibly it could ultimately lead to default, which could result in foreclosure.

That’s why we believe the best way to manage this program is to start with a 90-day forbearance period, which provides our customers with immediate payment relief to address the financial impact of the COVID-19 pandemic.

As the initial 90-day relief period comes to a close, together we can assess your financial situation and work with you to determine which of the available post-forbearance options is best for you to help get you back on track.

Before the end of your forbearance period, we will work together with you to determine the what will be the appropriate next steps based on your unique situation. We ask that you contact us 30-days prior to the end of your forbearance plan, which gives us time to reassess your hardship and financial status, and helps us determine your eligibility for additional relief options. Some of those options include:

• A reinstatement: This is where you make up missed payments in a lump sum to bring your account current and continue to make regular, on time payments. While that’s the best option, we understand not everyone will be able to do that.
• A repayment plan: This is where you work to bring your loan current over time by making monthly payments in excess of your contractual payment amount.
• An extension of your forbearance: If your situation has not changed, or is still unstable, we can look to extend your forbearance another 90-days. But remember, any payments suspended during forbearance will still be due at the end of the forbearance period.
• Loan modification: This is where the we modify the terms of the Note to help get you current and potentially provide for a lower monthly payment going forward. In order to take advantage of this option, you’ll have to submit a full mortgage assistance application package and for review.

Each of these options have their pros and cons, and may have additional eligibility and qualification requirements. That is why it is important that we stay in contact throughout your forbearance term so that we can work together to determine the right solution that’s tailored to your unique situation.

Unfortunately, there has been a lot of misinformation during this current situation about what servicers can or should be doing to help people impacted by COVID-19. Politicians, the media, and maybe even some of your neighbors are talking about “pushing missed payments to the end of the loan” also known as a deferral. Or they might even be talking about outright payment forgiveness.

Unfortunately, for the vast majority of homeowners, these programs may not be available. As a servicer of loans backed by the federal government, including FHA, VA, USDA, Fannie Mae, and Freddie Mac loans, we are contractually obligated to follow guidance set forth by the agency or investor which insures your loan.

Not all agencies have deferral options available to assist today. However, we know our agency partners are hard at work to put out guidance in response to COVID-19 hardships and we anticipate additional relief options will be made available in the future. As soon as we are aware of additional relief options, we will be sure to communicate those options.

During your forbearance period, no payments are expected. There will be no late charges assessed to your account, negative credit reporting is suppressed, and you will continue to receive your monthly billing statement. Also, we will be in contact with you periodically to discuss your specific situation, including what options are available to you at the end of your forbearance term. If you have any questions, during your forbearance period, please contact us. We’re here to help you.

Yes, you can make payments during your forbearance and we encourage you to do so if possible. Even if you can’t make your full monthly payment, partial payments will be accepted under forbearance plans.

It is important to remember that the forbearance plan is intended for temporary hardship, and is not intended for long-term relief. Once the forbearance plan expires, the total amount of all outstanding monthly mortgage payments that were suspended during the forbearance period, as well as any previously delinquent amounts, will become due. So if you can pay even part of your monthly obligation during the forbearance plan, we encourage you to do so.

Yes, you can cancel your forbearance plan at any time. Should your financial situation improve prior to the end of your forbearance period, and you are able to resume making your normal payments again, we can stop your forbearance plan and work with you on your options to get you back on track.

Through the duration of your forbearance plan, we will not assess any late charges and credit reporting will be suppressed, but only for the duration of the plan. Once your forbearance plan ends, we will resume credit reporting.

Each credit bureau leverages their own algorithms to determine how to score your credit, and although negative credit reporting is suppressed during a forbearance, meaning we will not report that a payment was skipped during the forbearance plan, it is possible that a credit agency may assess your credit differently in the absence of such reporting. If you have questions on how credit bureaus measure credit scores, we encourage you to contact them directly.

Remember that while you’re on a forbearance plan, we will not negatively report your credit. However, it’s possible that some lenders or loan products may restrict refinancing if you’ve recently been on a forbearance plan. If you have questions, we suggest you speak with your mortgage lender or a licensed mortgage loan originator regarding your ability to refinance.

Unfortunately, scammers are out there in times like this. What you should know is that we will never ever ask you for your personal information in an email or text message. If we reach out to you, we won’t ask for confidential information, such as your name, password, personal identification number (PIN) or other account information.

We encourage you to be aware of loss mitigation and foreclosure rescue scams. If you see or hear something that doesn’t seem right, please contact us directly to inquire.

If you receive a suspicious call, text message, email, or mailing claiming to be from TMS, and you have any doubt about the legitimacy of the contact, please hang up immediately and call the Customer Care number on your Borrower Portal page, or the number noted on your monthly statement.

Never give out personal information, debit or credit card numbers, or wire money or send gift cards as a result of an unexpected or unsolicited call if you cannot validate the caller’s authenticity.

TMS provides many options for payment; be suspicious if the caller is REQUIRING funds to be sent in non-traditional payment methods.

Never pay a third party for help with loss mitigation or home retention assistance. Help with home retention options, including housing counseling, is FREE.

Should you become suspicious, ask the caller for details about his or her name, phone number, company, etc. Your questions may scare them away. If the conversation continues, document what they tell you, including the date and time you speak with them, caller ID number and anything else that may aid in a possible investigation.

Know how to access your monthly bill easily to verify our contact information. You can access your account online through your Borrower Portal at any time or call our Customer Care number for any questions you may have.

Scammers may use some of the following techniques to attempt to obtain funds or personal information from you. Safeguard yourself against potential scams by being aware of the following techniques:

• Pressure to send money as fast as possible/by a set deadline
• Threatened with law enforcement action
• Asked to send funds through wire transfer services
• Told to purchase gift cards and provide codes as a form of payment
• Being instructed to not trust TMS
• The caller exhibits irritation, unease, or anger when you question their authority. Notice if their emotion intensifies when you ask to speak with their manager, for their phone number, or to call back later.

Your year-end tax statement from TMS contains documents that summarize your payments, escrow account activity, interest paid and if applicable, interest earned over the last 12 months. Along with this statement, you will receive your 1098 and/or 1099INT (if applicable), which you will submit when filing your tax return. Or they may be mailed separately. If you chose electronic delivery, these would be emailed to you. Regardless, you can expect all necessary documents for filing no later than January 31.

Was your loan transferred during the previous year? If so, this means that you'll receive statements from TMS as well as your previous servicer. You can expect to receive both of them no later than January 31.

Not surprisingly, people tend to have a lot of questions about year-end statements. That’s why we grabbed some bean bags, brewed some tea, and had a chat with our dedicated Customer Careologist in order to find out the most commonly asked questions. Then we committed ourselves to coming up with the clearest, most comprehensive answers for you.

Contact your tax authority or insurance company in order to verify any amounts paid for taxes and or insurance. You can also look at your payment history on your year-end statement to figure this out.

If you still have questions about your year-end statement, trust us, you’re not alone. Call our Customer CAREologists at 866.867.0330. We are happy to help you Monday through Friday 8:00 am to 9:00 pm EST, and Saturday 8:00 am to 12:00 pm EST.

Our billing statement is designed to make a statement: keep things simple, easy. Here you’ll find everything you need to know about your account, organized in a way that’s headache-free.

1. Payment Amount Due

A quick, at-a-glance look at your monthly balance and when it’s due.

2. Explanation of Amount Due

A breakdown of your payment due so you know exactly what your payment consists of.

3. Account Information

Need the nuts and bolts of your account? Here’s where to find it.

4. Past Payment Summary

Area to review a summary of any activity since your last statement, including year-to-date totals.

5. Transaction Activity Since Your Last Statement

This section shows a breakdown of all activity that has taken place on your account since your last statement.

6. Message Board

Here you’ll find timely news and information that we want to be sure you don’t miss.

7. Reference Section

Quick reference of ways to pay and resources.

8. Payment Coupon

That all-important part of the statement that you mail in with your payment.

9. Important Information

What kind of a company would make you look for their most requested info? Not us.

10. Change of Contact Info

If you have a new email address, phone number, etc., fill out this consent form and check the box at the top so we can update our files.

Principal

The amount of money you originally borrowed.

Interest

The amount of money on top of the principal that you owe based on your interest rate (this is what it cost you to borrow the principal).

Escrow

The portion of a mortgage payment that is set aside in an account (called an escrow account) that will pay for the taxes and homeowner's insurance. For further explanation on escrow, read our Happy Hub blog.

Fees and Charges

These are any miscellaneous charges (such as a service fee) that are added to your mortgage payment.

Corporate Advances

These are any servicing-related expenses incurred by the servicer and paid on the customer’s behalf, such as legal fees, repair costs, or property inspections that are recoverable from the customer.

Partial Payment (Unapplied)

This is money you have paid toward a full payment but will not been applied to the pricipal or interest until it is paid in full. Partial payments may result in a late fee or constitute a state of delinquency.

Late Fees

These are fees assessed to your account due to not paying your monthly payment on time.

Federal regulations define a successor in interest as the recipient of an ownership interest in a property securing a mortgage loan as a result of:

• The death of a co-borrower on the mortgage secured by the property:
• The death of a relative who is a mortgagor on the property;
• Transfer by a spouse or parent;
• Transfer as a result of a divorce or legal separation;
• The establishment of a living trust

Transferees may qualify for successor in interest status which would allow them access to information related to this loan. However, in order to confirm this status, we need to be provided a copy of any deeds related to the transfer, any evidence of family relationship (i.e. marriage certificate, birth certificate, or other documents), and/or any Trust documents, if applicable.

If you believe you are a successor in interest, complete, sign, and return the following:

• Successor in Interest Contact Information Form
• Copy of Driver’s License or State Identification Card
• Applicable documentation to your situation

Please send the Successor in Interest application and documentation to one of the following:

• Email: ccare@servicingdivision.com
• Mail: Attn: Special Loans: 500 South Broad St. Ste. 100A, Meriden, CT 06450

Or, you may reach out to our Customer Care Team at 866-867-0330 anytime Monday – Friday 8am to 9pm ET or Saturday 8am to 12pm ET with further questions.

Our Special Loans team will acknowledge your request with five business (5) days of receipt. This acknowledgement will detail documents required to confirm your request as well as contact information in order to update our system with your information, if approved. You may also download our form and submit your documentation and contact information with your initial request here. If additional information is required, Special Loans will send you a follow up letter requesting additional information or notifying you of incomplete information. Please anticipate up to 30 days for TMS to process your request.

Once we confirm all documents are received and you are added as a successor in interest, a confirmation letter will be mailed to you. This confirmation letter will also include an acknowledgement form to complete and return to TMS if you wish to begin receiving notices pertaining to the loan.

An assumption of a loan allows an individual to keep the terms of the existing mortgage and put the loan in their name. Once you are confirmed as a successor in interest, please let us know if you are interested in assuming the existing loan.

As an approved Successor in Interest, you will be added as successor on the loan, but the loan will remain in the original borrower’s name. However, scheduled monthly mortgage payments will still be due. Assuming the loan is not required but may be an option that can be considered.

A mortgage recast is a onetime option available for Fannie Mae or Freddie Mac conventional loans allowing you to put a lump sum towards the principal balance on your mortgage. Along with this principal payment you can request that your lender recast the mortgage. Your interest rate and maturity date will remain the same, however, the loan will be re-amortized (a fancy way of saying your payment will be re-calculated) reducing your monthly principal payment.

Mortgage Recasts are available for Fannie Mae and Freddie Mac conventional loans once in a 12-month period for 1st liens. FHA, VA, and USDA loans are not eligible for a Recast.

Recasting your mortgage only affects your monthly principal and interest amount. The amount will remain lower, however, if you have an Adjustable Rate Mortgage (ARM) you may see small variances up and down through the rest of your loan term and the Escrow portion of your payment may change in the future, both of which could affect your overall monthly payment.

Yes. A minimum of 10% of the current unpaid principal balance is required. This amount may be accepted as:

• A single lump sum payment or
• In multiple principal reductions totaling at least 10% of your current unpaid principal balance if received within a 3-month period.

Yes. A $300.00 processing fee is collected before our Special Loans team completes their review.

Yes.

• The loan may not have had a modification completed within the last five years.
• The account may not be currently active in bankruptcy.
• The account may not be currently delinquent.
• The loan may not be in an interest-only period.
• In the case of an Adjustable Rate Mortgage (ARM), there may not be an interest rate change scheduled in the next 30 days.
• All outstanding fees are paid in full.
• 2nd liens are ineligible for Recasting.
• The loan must be aged, at minimum, 90 days after origination or from the service transfer date.

Simple! You don’t need to recast your mortgage. If you are expecting an adjustable rate change or are in an interest only period of your loan, a recast agreement is not necessary. Please feel free to send us your additional curtailment prior to your next scheduled rate change or the end of your interest only period and your loan will be re-amortized automatically.

Recasting your mortgage will not change your escrow (taxes and insurance) payments. You may be eligible for PMI removal after the completion of your recast based on your properties appraised value and resulting unpaid principal balance. This is a separate request outside of your loans recast. Please reach out to our Customer Care Team at 866-867-0330 anytime Monday – Friday 8am to 9pm ET or Saturday 8am to 12pm ET with further questions.

Yes. Recast requests will be accepted after 90 days from origination or 90 days from your loan transferring to TMS and we must have a copy of the recorded mortgage.

Please reach out to our Customer Care Team at 866-867-0330 anytime Monday – Friday 8am to 9pm ET or Saturday 8am to 12pm ET with your request:

• Recast request forwarded to our Special Loans team for handling
• Special Loans will provide amortization schedules based on the amount(s) requested. Please note, if no specific amount was given, Special Loans will send a default amortization scheduled based on our 10% minimum requirement
• Once the principal curtailment and recast fee are received and deposited our Special Loans team will send you a recast agreement based on the amount received
• Once the agreement has been signed, notarized and returned to our Special Loans team, your system changes will be completed, and a new billing statement requested
• Please anticipate a 30-45 day processing time

Please return your principal reduction and fee to:

Attn: Special Loans
3138 E Elwood Street
Phoenix, AZ 85034

SCRA, or the Servicemembers Civil Relief Act, enables servicemembers on active duty in the military service of the United States to devote their entire energy to the defense needs of the nation by alleviating some of their financial burden. Some of the protections and benefits offered under SCRA include:

• Interest Rate Cap: The maximum rate of interest on debt incurred prior to entry into military service (active duty) is 6%. If an eligible servicemember has an interest rate over 6%, upon request and with proof of eligibility, TMS will reduce the rate to 6% for the term of active duty.
• Fees: Fees that are subject to SCRA will be waived to ensure that interest in excess of 6% is not paid by the servicemember. This can include late charges and foreclosure fees. TMS will waive late charges for all loan types/investors from the start of the active duty period through the end of the protection period.
• Stay on Evictions and Foreclosures: Under SCRA, the servicemember has the right to have default judgments and other legal proceedings, evictions, repossessions, and foreclosures delayed until the servicemember is able to defend themselves in court. TMS will not proceed with these actions while the servicemember is on active duty and for up to 12 months after the end of active duty.

Keep in mind that SCRA protections apply only to an obligation on real property (i.e. your mortgage) owned by a servicemember that meets the following criteria:

• Loan was originated before the period of the Servicemember’s active military service and for which the Servicemember is still obligated, and
• Loan is secured by a mortgage, deed of trust, or other security in the nature of a mortgage.

Servicemember refers to all persons in the armed forces of the United States: Army, Navy, Marine Corps, Air Force, and Coast Guard, including members of a reserve component and the National Guard, (Reservists), the commissioned corps of the National Oceanic and Atmospheric Administration (NOAA), commissioned corps of the Public Health Service (PHS), and U.S. citizens serving with allied forces.

Military Service refers to active duty in the regular military (Army, Navy, Air Force, Marine Corps, and Coast Guard), including members of a reserve component called to active duty, and members of the National Guard called to active duty by the Federal government for longer than 30 consecutive days, and commissioned officers of the National Oceanic and Atmospheric Administration (NOAA) or Public Health Service (PHS) called to active service by the order of the Federal Government.

TMS will accept the following types of documentation to determine a servicemember’s eligibility for benefits under SCRA:

• A verbal, written, or electronic request for relief (Note: TMS will verify the servicemember’s eligibility through the Defense Manpower Data Center (DMDC); and
• At least one of the following:
  • Military orders, including Enlistment Contract, Travel or Permanent Change of Station orders, and Military Deferments; or
  • Department of Defense (DOD) Short Form; or
  • Letter from a Servicemember’s Commanding Officer, or screen print or other evidence of the DMDC check using the loan/obligation date as the “as of” date.

For Fannie Mae loans, TMS will also accept:

• Fannie Mae’s Request for Military Indulgence Form 180; and/or
• TMS’s Mortgage Assistance Application Package for borrowers seeking loss mitigation assistance. This Package is modeled off of Fannie Mae Form 710 and is intended to document the borrower’s financial and hardship information.

Documents should be sent to:

• Fax to: 1.888.476.3867
• Mail to: Special Loans, 500 S. Broad Street, Suite 100A, Meriden, CT 06450
• Customers can also email the information to CCare: ccare@themoneysource.com

If the customer requesting SCRA benefits or protections is claiming eligibility as a spouse or dependent of the servicemember, the customer must provide the documentation requested above for the servicemember (written request for relief and copy of orders), plus:

• For spouses: a copy of the marriage certificate.
• For dependents/children: a copy of the dependent’s military ID showing their military sponsor and relationship to sponsor.

Documents should be sent to:

• Fax to: 1.888.476.3867
• Mail to: Special Loans, 500 S. Broad Street, Suite 100A, Meriden, CT 06450
• Customers can also email the information to CCare: ccare@themoneysource.com

Yes. You are still required to make your monthly mortgage payments made up of principal, interest, taxes, and insurance, and any other amounts that show as due on your monthly billing statement.

Once we receive your request for relief under SCRA, we will review your eligibility and processes your request within 30 days of the receipt of the request. If our review confirms you meet eligibility requirements, we’ll send you a confirmation letter that outlines any change to your monthly payment, the effective date, and termination date of the benefits (if known).

If we’re missing documentation needed to process your request or need more information, we’ll send you a communication letting you know. If we determine you are not eligible for SCRA benefits, or if you do not submit sufficient documentation within 30 days of the receipt of the request, we will send a communication denying the request for SCRA benefits.

Our Accessibility Page makes our services and our team members as easy-to-reach as possible. We’re committed to meeting your needs and making your day. Read more about it here.

Do rainbows go with unicorns? Of course we accept! The Telecommunications Relay Service (TRS) allows calls to be placed and received by anyone needing assistance with communication due to a hearing or speech disability. Anyone can be a happy homeowner, and we’re committed to helping that happen. TRS is available in every state, the District of Columbia, Puerto Rico, and all other U.S. territories for long-distance calls. And it won’t cost you a dime. This assistance is available through state and federal funding—that’s even more reason to smile. For more information on TRS, click here.

We’re here to help, too –
Call us: 866.867.0330 (Toll Free)
Email us: Ccare@TheMoneySource.com
Hours: M-F, 8AM – 9PM ET, and Sat 8AM-Noon ET

We do! TMS has on-demand Interactive Voice Response (IVR) available over the phone en español, and a full Customer Care Team of Spanish-speaking members. And for those who have a preference outside of English or Spanish, we happily offer verbal translations in more than 95 languages. De nada! (That’s Spanish for, “No Problem!”)