Mortgage Servicer Update Effective September 1

Effective September 1, 2024, approximately 2,559 mortgage accounts are being transferred to a different, trusted organization, PNC Bank. The transfer will maximize the growth that UFCU earns for Members, keep rates low, and support UFCU’s mission to make change locally.

Members whose mortgages were transferred will be notified via email from UFCU. The current servicer, Midwest Loan Services, and the new servicer, PNC Bank, will contact those Members to pave the way for a smooth transition. The first mortgage payments to the new servicer will begin on September 1, 2024.

Like UFCU, PNC Bank is committed to service with user-friendly technology. The terms, rates, and amounts of these mortgages remain unchanged.

What You Can Expect If Your Mortgage Was Transferred

For Members whose accounts were transferred, the switch becomes official on September 1, 2024.

• On August 15, 2024, Midwest Loan Services will mail a letter with details to affected UFCU Members.¹
• At the beginning of September, PNC Bank will mail a Welcome Package within a few days of the transfer with easy steps for making the first payment in September.
• Beginning September 1, mortgage payments made to Midwest Loan Services will stop automatically.
• On September 1, you must make your mortgage payments directly to PNC Bank.
• If Midwest Loan Services currently makes tax and/or insurance payments on your behalf, PNC Bank will take over those payments. Escrow funds that are held to make these payments are being seamlessly transferred from Midwest Loan Services.
• PNC Bank will manage each account’s private mortgage insurance (PMI), if any.
• Mortgage statements and payment options will be removed from UFCU’s Online Banking and Mobile Banking applications for those Members as of September 1, 2024.

To-Do List for Members Whose Accounts Were Transferred

If your mortgage was transferred, please take these steps to prepare:

1. Tell us right away if your mailing address has changed recently. The current and new servicers will be contacting you via mail.
2. Let us know if you don’t get mailings from the two loan servicers.
3. Review the entire welcome packet from PNC Bank when it arrives, because it will include some important next steps.
4. Make sure you have all the documents you need. You will receive your 2024 form 1098 in the mail from Midwest. If you need any other documentation, please reach out to Midwest at (866) 610-UFCU. Next year, you will receive two form 1098s (one from Midwest and one from PNC Bank).

If you have questions about this transition, please don’t hesitate to call us at (512) 997-4663 Option 9. You also can contact PNC Bank at (800) 822-5626 or [email protected].

¹ Midwest Loan Services and PNC Bank will never request your personal information through e-mail or text messages. Kindly alert us if you are asked for your information through this type of communication from someone claiming to represent a mortgage servicer.