Below are FAQs to help with the transition for servicing your mortgage. For more information, please call us at 803-367-4100 or visit our secure online chat at familytrust.org. Thank you for your patience.
Why are you outsourcing the servicing of my mortgage?
New federal regulations are making it increasingly difficult to service mortgages at Family Trust in a cost-effective and timely manner. We devoted many hours researching our options and have selected Dovenmuehle Mortgage Inc. (DMI) because it has great expertise in this area.
Are you selling my mortgage?
No. Be assured we are not selling your mortgage, and the terms and conditions of your mortgage will not change. DMI will handle all functions related to servicing your mortgage, such as payments, tax and insurance, mortgage statements, and credit and tax reporting.
Who is Dovenmuehle and why did you select them?
DMI is one of the oldest mortgage companies in the United States and services mortgage loans for borrowers in all 50 states. We believe DMI provides the most professional service and cutting edge technology available in the industry. You will continue to receive statements with specific mortgage information each month. You’ll also have 24-hour website access to your account on MyBranch Online Banking, automated account information, and call center support.
Where are they located?
DMI is headquartered at 1 Corporate Drive, Suite 360, Lake Zurich, IL 60047-8945.
What will change?
We are confident that this alliance will provide the same great service you’ve come to expect. We are doing everything possible to make this change as seamless as possible.
What can I expect during the transition?
Please be aware that we expect some delays during the first month. For example, November payments made by check or online transfer won’t be applied until Nov. 8; automatic draft payments won’t be applied until Nov. 14. Late charges will not be applied if the transition causes a delay in payment processing. In addition, our mortgage site on MyBranch won’t be available for about two weeks.
What if I have a question about my mortgage or escrow?
DMI has a dedicated phone line for Family Trust members at 855-582-0225. Representatives will be available from 8 a.m. to 5 p.m. Monday through Thursday and 8 a.m. to 6 p.m. Fridays Eastern Standard Time. DMI also has secure messaging through MyBranch. A representative will be unavailable on federal holidays, the day after Thanksgiving and Christmas Eve.
How will I make my payment?
You can make a payment in a variety of ways:
- By automatic draft. You will need to sign a form that authorizes DMI to initiate a mortgage payment
- Online transfer at MyBranch Online Banking
- Electronic BillPay. For those who have been using BillPay, you’ll need to change the process to reflect a new account number and change the address to 1 Corporate Drive, Suite 360, Lake Zurich, IL 60047
- By mailing a check to Payment Processing Center, 371306, Pittsburgh, PA 15250-7306. Coupons for payments will be included in the monthly statement.
- At any of Family Trust’s seven branches
When is my mortgage payment due?
All Family Trust mortgage payments are due on the first of the month.
What if I want to make my monthly payment early?
You can make a payment anytime and there are no pre-payment penalties.
What if my payment is late?
Payments are considered late on the 15th of the month that the payment is due. Late charges are accessed based on the amount of principal and interest due. The fee rate varies by state.
What if my check bounces?
Two attempts will be made to collect if a check or draft is returned for insufficient funds. Members will be charged a $20 returned check fee if the check doesn’t clear after two attempts. This fee is in addition to any charges that the financial institution may charge.
Can I pay by phone?
You can pay be phone by calling 855-582-0225. The fee will be $9.50 to make a payment using the automated system, and $11.50 if you need assistance from a representative. Automatic draft and online payments are both convenient and free.
Is there an extra charge for a paper statement?
No. All Family Trust mortgagors will receive a paper statement each month unless they make electronic payments online and opt for E-statements through MyBranch.
Can I get my statement via email?
Mortgage statements will be available online through MyBranch. Click on the mortgage tab.
Will my mortgage information change on MyBranch?
Your mortgage information still will be available on MyBranch as it was before the conversion. By mid-November, you’ll find links to your loan summary and loan activity, information on your escrow, taxes and interest, and your E-Statement. In addition, you can set your personal preferences, make a payment online, request loan documents, and find FAQs and DMI contact information.
Can I make extra payments and what is the benefit?
Yes, you have the option to make extra principal payments. Please clearly detail the amount of the principal curtailment on your payment advice/coupon. Your loan must be current with no fees outstanding before a principal curtailment will be applied. The benefit of making extra principal payments is that your account will mature sooner resulting in less interest being paid over the life of the loan.
How do I change the mailing address on my account?
Send a written request signed by all borrowers to: Research Department, 1 Corporate Drive, Suite 360, Lake Zurich, IL 60047 or by fax at 847-574-7659.
How do I submit my payoff amount?
Ordering a payoff statement is easy using a touch-tone telephone and DMI’s automated information system. Follow the prompts at 800-550-7400. The turnaround time for having a statement mailed is approximately 48-hours. Requests to have statements faxed are usually handled within 24 hours. You may also order a payoff statement by speaking directly with a DMI Customer Service Representative. Please note that Family Trust cannot process the payoff.
How can I order a Verification of Mortgage (VOM)?
Send a written request signed by the borrower(s) to: Research Department, 1 Corporate Drive, Suite 360, Lake Zurich, IL 60047 or by fax at 847-574-7659.
How do I go about removing the Private Mortgage Insurance (PMI) on my loan?
Contact DMI’s Customer Service Group at 800-550-7400. If PMI cancellation is permitted on your particular loan, you will receive a package outlining the requirements to remove it from your account.
Will I receive the balance from my escrow account after I have paid my loan in full?
Once your loan has been paid in full, the escrow/surplus balance (if any) will be refunded to the mailing address on DMI’s system in approximately 15 business days of the payoff transaction. If you are moving, please be sure to provide any change of address at the time of the loan payoff.
Where should I send my tax bills?
1 Corporate Drive, Suite 360, Lake Zurich, IL 60047
Where should I send general correspondence?
1 Corporate Drive, Suite 360, Lake Zurich, IL 60047
Where should I send my insurance bill?
PO Box 961292, Fort Worth, TX 76161-0292 or call 855-640-4865.