Mortgage Transfer Frequently Asked Questions

Get answers to your questions about the transfer of your mortgage to M&T Bank.

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Why was my mortgage transferred to M&T?

​The servicing of your loan can be sold at any time. When M&T begins servicing your mortgage, we are required to service it in accordance with your loan documents.

​Please refer to the Welcome Kit that was mailed to you for complete details on the transfer of your mortgage to M&T. All payments and correspondence regarding your mortgage should be directed to M&T after the date of your transfer

​The good news is that very little will change. Your interest rate and the number of payments remaining on your mortgage will stay the same. You will have a new payment mailing address, as well as a new toll-free customer service number: 1-800-724-2224.  Please allow sufficient mailing time to ensure your payments are received by the 16th of the month. Any mortgage payment received after the 16th of the month is considered late and a fee will be charged.


Your new payment mailing address is:

M&T Bank
P.O. Box 62182
Baltimore, MD 21264-2182.

Be sure to include your coupon with your payment.  If you’ve misplaced your coupon, write your new M&T mortgage account number, which can be found on your Welcome Letter, on your check. If you have misplaced your Welcome Letter, you can locate your new account number using the account lookup tool.  

​M&T Bank was established in 1856 as Manufacturers and Traders Bank. Today, we are a community-focused bank that provides banking, insurance, investments, mortgage and commercial financial services. As one of the 20 largest commercial bank holding companies in the United States, we continue to grow with a focus on the future.

Learn more about M&T Bank >

​M&T Bank has more than 1,000 branches located in the Mid-Atlantic and New England. We also have 1,800 ATMs and a variety of online and mobile banking services.

Find your nearest M&T Branch or ATM >

Your Welcome Kit contains valuable information about the change to M&T Bank. Be sure to read it for complete information about the transfer of the servicing of your mortgage and what you can expect during the transfer period.

Your new M&T account number can be found on the Welcome Letter that was mailed to you. If you have misplaced your Welcome Letter, you can locate your new account number by using the account lookup tool.

​Yes, you will receive a monthly billing statement. You can expect to receive your first statement about two weeks after your loan has transferred to M&T.

If you prefer to receive electronic statements rather than paper statements, you can enroll in Online Banking to receive free electronic statements. If you have not already created a User ID and Passcode, you will need to do so by selecting “Enroll Now.”

If you are already enrolled in M&T Online Banking, access instructions on how to retrieve your statement (PDF). 

M&T provides the following options for making your mortgage loan payments:

  • Online Payments: Visit Online Banking. This service will be available after your loan transfer is complete. Check your Welcome Kit for important dates related to the transfer of your mortgage.  There is no fee for this service. If you haven’t already created a User ID and Passcode, you will need to do so by selecting “Enroll Now.” Learn more about how to enroll in online banking (PDF).  Note: you do not need an M&T Bank checking or savings account to make an online payment – you can use a checking or savings account at any financial institution. 

  • Payments by Mail: 
    M&T Bank
    P.O. Box 62182
    Baltimore, MD 21264-2182.

    Be sure to include your coupon with your first payment to M&T. If you’ve misplaced your coupon, write your new M&T mortgage account number on your check. Payments should be made payable to M&T Bank.

  • Automatic Deduction: You can automatically deduct your mortgage payment from the account of your choice through M&T by visiting onlinebanking.mtb.com. Tor enroll in non-monthly drafting, follow the instructions at mtb.com/achenroll. 

  • Pay-by-Phone: 1-866-241-6014

  • Other Payment Options:  Pay in-person at any M&T branch at no charge.

​Yes. Your prior servicer will forward the payment to M&T Bank and we will credit it to your loan. However, please note that 60 days after the transfer date, payments will no longer be forwarded. To ensure that your payment is properly applied and that you don’t incur a late fee, please begin mailing your payments to:

M&T Bank
P.O. Box 62182
Baltimore, MD 21264-2182

Payments should be made payable to M&T Bank.

​Visit  M&T Online Banking after your loan has been transferred. Simply create a User ID and Passcode at the site for full access.

Learn how to enroll in M&T Online Banking (PDF) >

Once you are registered for M&T Online Banking, you can enroll in automatic payment deductions. You can also sign up for electronic statements and learn about other services and features. Or call us at 1-800-724-2224, and we will assist you with enrollment in Online Banking and automatic payment deduction.

If you prefer to have your payments drafted weekly or biweekly, you can enroll in Flex Drafting.

​Payments can be scheduled at any time as long as it is on or before the last day of your grace period.

Yes, please ask your insurance carrier to change the mortgagee clause to:

M&T Bank
ISAOA loan # (new M&T loan number)
PO BOX 5738
Springfield, OH 45501-5738

Please notify M&T of the change and ask your insurance carrier to change the mortgagee clause to:

M&T Bank
ISAOA loan # (new M&T loan number)
PO BOX 5738
Springfield, OH 45501-5738

​Normally, we review escrow payments once a year at the same time. Your account may be adjusted again as part of the annual review and then every 12 months thereafter.

​Your mortgage payment may have increased due to an increase in your taxes and/or insurance bill. The escrow portion of your payment is based on the last tax and/or insurance payment made from your escrow account prior to your analysis.

​If you had an escrow account with your prior servicer to pay your taxes and insurance, M&T Bank will continue to pay taxes and insurance on your behalf. We can assure you that the payment of property insurance and/or taxes will not be interrupted as a result of the transfer. If your insurance or taxes are paid from your escrow/impound account, and the bill is not paid prior to transfer, M&T will pay the tax bill.

​An escrow shortage occurs when the funds in your escrow account at the time it is analyzed are less than what is needed to pay future tax and/or insurance payments.

Your escrow shortage is being collected over 12 months and is included in the escrow portion of your payment. If you prefer to pay your shortage in full, you have two options:

  1. Online: Log in to M&T Online or Mobile Banking, select your mortgage account and click the "Pay Now" button. Your mortgage loan must be current to use this option.

  2. By Mail: Send a check made payable to M&T Bank and indicate on the memo line that you are making an escrow shortage payment. Please mail the check to:

M&T Bank Attn: Escrow Department
PO Box 64787
Baltimore, Maryland 21264-4787

If you are paying your escrow shortage, the funds will be applied immediately, however your mortgage statement may not reflect changes until the analysis effective date. 

A copy of your new insurance information can be uploaded at www.mycoverageinfo.com/mtb or faxed to us at 937-525-4125.If you have any difficulty or additional questions, please give us a call at 1-888-882-1847.

 

​While most bills are paid electronically, you can mail your tax bill to:

M&T Bank
P.O. Box 23628
Rochester, NY 14692

​Since M&T Bank pays most tax bills using electronic information, you should contact your local tax office for a copy of your tax bill.

​Please call our Tax Department at 1-866-406-0949 and provide the information to one of our representatives. They will document the necessary information so the bill can be paid as soon as possible.

​In January, you will receive two mortgage interest statements. One from M&T for activity during the period of time that M&T serviced your mortgage, and another from your prior servicer. You will need to include both mortgage activity statements when you file your tax return. 

​Please send in a copy of your orders to report for active duty to:

M&T Bank
Attention: SCRA Servicing
PO Box 900
Millsboro, DE 19966

Yes, after your loan has been transferred, please enroll in Online Banking to access account information including your current loan balance, payment amount breakdown, and details on your escrow items (if applicable). If you have not already created a User ID and Password, you will need to do so by selecting Enroll Now. Once you have signed in, click on your mortgage account on the Account Summary page and navigate to My Mortgage Info.

Learn how to enroll in M&T Online Banking (PDF) >

Yes! This is called a loan recast. You can request a recast of your principal and interest payment after you have made your first mortgage payment with M&T. A recast will recalculate a new principal and interest monthly payment amount following a large payment applied to your principal only. The recast does not change any other terms of your loan and you will mature at the maturity date recorded on your original mortgage note.

To automatically remove your PMI, the curtailment you make must lower the principal balance to a Loan To Value (LTV) ratio of 78.0%. Once your loan reaches a 78.0% LTV, the PMI will automatically be removed the following month.

PMI is NOT automatically removed until the loan LTV reaches 78.0%. Once the LTV reaches 80.0%, you can request removal by calling customer service. Removal of PMI above 78.0% and below 80.0% will be evaluated in accordance with investor guidelines.  Removal is not automatic, and is not guaranteed

If your current LTV is above 80% or your property type does not qualify under the Homeowners Protection Act (HPA), PMI can be reviewed for removal under investor guidelines.

  • If your loan closed less than two years ago: The increase in property value must be attributed to the improvements made to the property, and the valuation must indicate that substantial improvements have been made to the property since your loan originated. PMI cannot be canceled based on market value alone.
  • If your loan closed greater than two years ago: Significant improvements are not a requirement for PMI removal.

​If you have submitted an application for loss mitigation assistance, M&T will review your submission.  Please be advised that M&T may request additional documents to complete the review of your application.

​If you have submitted a complete loss mitigation application, but have not yet been approved, M&T will complete the loss mitigation review and send you the determination.

If you were offered a modification and have accepted, or are currently making trial payments, M&T will honor the agreement you entered into with the prior servicer.

If your account was modified prior to the transfer and all system changes were completed, the modification and terms will remain in effect.

​Please visit us online at Mortgage Assistance Programs for additional information on solutions that may be available to you.

In order to request relief under the Servicemember’s Civil Relief Act (SCRA) from loans with interest rates above 6%, a servicemember or spouse, or both, must provide a written request to the lender, together with a copy of servicemember’s military orders. Please send to the following address: M&T Bank, Attn: SCRA Servicing, P.O. Box 900, Millsboro, DE 19966. To reach M&T’s SCRA servicing team for more information please call 1 855-350-SCRA (7272) toll free or email scraservicing@mtb.com. 
For those borrowers with property in New York State: Please direct any complaints and inquiries to M&T Bank by contacting our Customer Service Department at 1-800-724-2224 or by sending a written request to the attention of Lending Services, Customer Support, P.O. Box 1288, Buffalo, NY 14240. You have the right to file complaints against M&T Bank with the New York State Department of Financial Services. You can obtain further information by calling the Department’s Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department’s website at www.dfs.ny.gov. M&T Bank is exempt from the Superintendent’s mortgage loan servicer registration requirements.
For those borrowers with property in Oregon: The Oregon Division of Financial Regulation (DFR) oversees residential mortgage loan servicers who are responsible for servicing residential mortgage loans in connection with real property located in Oregon and persons required to have a license to service residential mortgage loans in this state. If you have questions regarding your residential mortgage loan, contact your servicer at 800-724-2224. To file a complaint about unlawful conduct by an Oregon licensee or a person required to have an Oregon license, call DFR at 888-877-4894 or visit dfr.oregon.gov. Although M&T Bank is not an Oregon licensee, you may still submit complaints to the contact information provided.