Loan Servicing - Benchmark

A COMMUNITY OF MORTGAGE PROFESSIONALS

SERVICING YOUR LOAN IS EASY WITH BENCHMARK

At Benchmark, we continually monitor the market and your loan, so you don’t have to. We strive to ensure that you are offered the best product for your position, and the best mortgage possible.

What Can I Expect After My Loan Closes?

We believe that how we do things is just as important as what we do. Every team is guided by our Core Values, which define how we work, how we interact with each other, and how we best serve our customers, each other, and local communities.

Around 20 business days after your loan funds, our Client Care team will call to welcome you. During this call, your Client Care specialist will discuss the following with you:

Verify your contact information, including mailing address, email address, and phone numbers.
Provide information on when your first payment is due.
Offer details regarding your new mortgage servicer.

My First Payment Is Due. Now What?

If your first payment is due to Benchmark, a blue envelope will be sent to you by mail, and you will receive an email. This blue envelope contains options and instructions for making your payment.

Once your loan transfers to your new servicer, you may have options to set up online payments, recurring ACH payments, and bi-weekly payments, if offered by your servicer. Contact your new servicer directly for details on available payment options. If your loan is transferred to our servicing center, please see the section below for Benchmark serviced loans.

For some, your first payment may be owed directly to your new servicer. Look for a blue envelope in the mail from Benchmark, which contains the Transfer of Servicing Notice.

Got questions regarding your first payment?

Please email us at servicing@benchmark.us
Call our Customer Service Department at 1-888-600-2362
Monday – Friday from 8:30am to 5:00pm Central Time.

What Is A Servicing Transfer?

TRANSFERS OF SERVICING ARE COMMON WITH MORTGAGE LOANS.

Many activities must occur during the life of a mortgage loan, such as the application of monthly mortgage payments received from customers. Other activities may include customer service support, the payment of taxes and insurance premiums from customer escrow accounts, performing payment adjustments on adjustable rate mortgage loans, providing assistance with payment options during difficult times, and many other activities. Collectively, these are mortgage-servicing activities performed by your mortgage servicer.

From time to time, mortgage loans may transfer from one mortgage servicer to another. When that occurs, you will receive a Notice of Servicing Transfer from your current servicer, prior to the transfer of your servicing, as well as a similar notice from your new servicer after the transfer, or the notices may be combined into a single notice of servicing transfer sent prior to the servicing transfer date.

Please know that a transfer of servicing does not change any terms of your mortgage loan. It only changes who is performing servicing activities to support your mortgage loan.

The Notice of Servicing Transfer letter relating to your new Servicer is mailed to you in a Benchmark blue envelope, or you may receive an email that indicates the servicing transfer information. If you do not receive this information, please email us at servicing@benchmark.us, or call our Customer Service Department at 1-888-600-2362, Monday – Friday from 8:30am to 5:00pm Central Time. We are happy to send a copy of your transfer notice.

Under Federal law, during the 60-day period following the effective date of the transfer of the loan servicing, a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you.

Who Is My New Servicer?

Frequently Asked Questions (FAQ’s)

Where do I make my first payment?

If you have not received a communication regarding where to make your first payment, please contact our Customer Service Department at servicing@benchmark.us or (888)600-2362 and we will be able to provide this information.

Where do I register for online access to my Benchmark serviced account?

https://benchmark.loanadministration.com

How do I access my mortgage account statements?

Link to Page 11 of Cenlar PDF

How do I increase my mortgage payment frequency to pay my loan off early?

Please see attached form for Budget Drafting which contains instructions for the request. Please Note: For the budget drafting to begin the borrower must be paid ahead one month. (i.e. if you want the draft to start in December 2021, the account must be due for 1/1/22 in the month of November 2021 to start drafting in December 2021)

How do I sign up for auto-draft?

Please see attached form which contains instructions for the request.

Can I register online and access multiple loans?: (instructions on page 9 of Cenlar PDF)

If you have refinanced your current loan with Benchmark and we service the new loan; do I need to set up a new online user name/password?

No, you may use the same online account and is able to add the new loan number under the profile tab.
If you have multiple loans, you can add all loans to one profile during the registration process as long as all loans are currently serviced by Benchmark. You can also assign a nickname to each loan (i.e. Home, Rental or Vacation, etc.). You will have one online account with the ability to switch between each loan. From the Home Page Dashboard on the far right, the first loan registered will display the property address with the original loan amount (e.g. 1515 Elm Street Orig. $120,000). Using the drop down arrow you can view all loans or add a loan. NOTE: A star indicates this is the primary loan in which the system will automatically default or that it is the only loan in the system. All loans currently being servicing by Benchmark associated with your SSN will display in the loan selector dropdown.