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GMM Mortgage Payment Q&A

Congratulations and thank you again for choosing George Mason Mortgage for your home financing needs!

How do I pay my first mortgage?

Your payment coupon will be in your closing package. Currently, GMM does not accept online or phone payments. For any payment questions, contact GMM’s Servicing Department by calling (800) 867-6859, Monday – Friday, 8:30AM – 5:00PM and we will directly connect you to an available Servicing Associate.

Transfer of Service

It is common practice for a mortgage lender to sell your mortgage loan, also referred to as a transfer, which means you will then be submitting payment to a new servicer or the new owner but that may not always be the case.

If your loan is transferred, the terms and conditions of your original mortgage agreement with GMM will remain the same. A lender cannot change the terms, balance or interest rate of the loan from those set forth in the documents you originally signed. The payment amount should not change and it will not have an impact on your credit score.

How will I know my loan has transferred?

When your loan is transferred, you will receive a “goodbye letter” from GMM containing all the information of the new servicer, along with a “welcome letter” from your new service provider containing their contact information.

When will the transfer typically happen?

The transfer typically happens after your first mortgage payment, which will be to GMM. Once your loan has been transferred, direct any questions regarding the servicing of your loan to the new service provider.

What if I mistakenly make my mortgage payment to GMM after it is transferred?

After the transfer of your loan, you will have a 60 day grace period following the effective date of the transfer. During this time you cannot be charged a late fee if you mistakenly send your mortgage payment to the GMM servicing department. If during that 60 day grace period a mortgage payment is received by GMM, our servicing department will forward the payment to your current service provider.

Will my insurance company be notified?

Yes, we will notify and send your insurance company updated information so the correct mortgage company can be billed. It’s important to maintain the required property insurance on your home.

What if I received a letter but I’m not sure it’s from George Mason Mortgage?

When you move, many records become public information. This means that parties interested in selling you products and services can freely get data on you from your deed recording within a week or two after closing. Because part of the information recorded includes the lender, companies that are trying to deceive you may attempt to sell you products or services and represent themselves as George Mason Mortgage. We take the protection of your information extremely seriously. If you have any questions about something you’ve received, please don’t hesitate to contact us.

The George Mason Mortgage Servicing Department is available to answer any questions you may have in regards to servicing your loan needs.

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