Does this mean that I don't need to send them my insurance declaration page showing a $500 deductible? Wells Fargo bought my mortgage in early March from my mortgage broker, Proficio Mortgage. At the time that I was notified of the sale, Wells asked for some documentation regarding my insurance, which I really didn't understand and needed to go to my State Farm Agent's office to decipher. (I'm very busy and travel quite a bit, they said I had 90 days to get it to them)
Do I still need to worry about providing this to Wells Fargo? They are retaining the servicing of my mortgage.
FICO 8: 
Goal: Gardening!
Goal: Gardening!
@StartingOver10 wrote:
@webhopper wrote:Does this mean that I don't need to send them my insurance declaration page showing a $500 deductible? Wells Fargo bought my mortgage in early March from my mortgage broker, Proficio Mortgage. At the time that I was notified of the sale, Wells asked for some documentation regarding my insurance, which I really didn't understand and needed to go to my State Farm Agent's office to decipher. (I'm very busy and travel quite a bit, they said I had 90 days to get it to them)
Do I still need to worry about providing this to Wells Fargo? They are retaining the servicing of my mortgage.
Yes. You still have to show you have the insurance as a condition of your mortgage (you will see it right in the docs you signed). If you don't show you have adaquate coverage the servicer will put "forced placed" insurance on your property. Forced placed insurance is at an outrageously high rate and is a large profit center for the servicer. Don't go down that road. I'm really surprised you have 90 days to comply. Generally you have 60 days to show proof of insurance.
The insurance binder was turned in at closing... My effective date of the insurance actually occured before closing... I'm just wondering if Wells Fargo still needs a copy of it, which they should already have the insurance binders... Believe me, I know I need insurance, this is my second home purchase. I'm just chasing the administrative paperwork trail to make sure everyone has the right piece of paper in their hands. I've learned over the yrs that incompetence on other's part can make you lose money, so its your responsibility as a keeper of your money to chase the paperwork trail and make sure everything is correct so that they don't try to charge you for something that you shouldn't be charged for.
FICO 8:
Goal: Gardening!
Goal: Gardening!
Do I need to make sure that Freddie Mac has a copy of my Insurance Dec Page.....?
Should I send both of these Certified Mail Return Reciept Requested?
Thanks!
FICO 8:
Goal: Gardening!
Goal: Gardening!
@webhopper wrote:
@StartingOver10 wrote:
@webhopper wrote:Does this mean that I don't need to send them my insurance declaration page showing a $500 deductible? Wells Fargo bought my mortgage in early March from my mortgage broker, Proficio Mortgage. At the time that I was notified of the sale, Wells asked for some documentation regarding my insurance, which I really didn't understand and needed to go to my State Farm Agent's office to decipher. (I'm very busy and travel quite a bit, they said I had 90 days to get it to them)
Do I still need to worry about providing this to Wells Fargo? They are retaining the servicing of my mortgage.
Yes. You still have to show you have the insurance as a condition of your mortgage (you will see it right in the docs you signed). If you don't show you have adaquate coverage the servicer will put "forced placed" insurance on your property. Forced placed insurance is at an outrageously high rate and is a large profit center for the servicer. Don't go down that road. I'm really surprised you have 90 days to comply. Generally you have 60 days to show proof of insurance.
The insurance binder was turned in at closing... My effective date of the insurance actually occured before closing... I'm just wondering if Wells Fargo still needs a copy of it, which they should already have the insurance binders... Believe me, I know I need insurance, this is my second home purchase. I'm just chasing the administrative paperwork trail to make sure everyone has the right piece of paper in their hands. I've learned over the yrs that incompetence on other's part can make you lose money, so its your responsibility as a keeper of your money to chase the paperwork trail and make sure everything is correct so that they don't try to charge you for something that you shouldn't be charged for.
That's the truth!
Yes, you still have to provide the insurance dec page. I have found that the insurance dept for many of these servicers is either very poorly run or their communication is lacking. Send the insurance dept exactly what they need. Yes, they should have it....but as you pointed out their incompetence can cost you money. 
@StartingOver10 wrote:Yes, I would send it CMRRR.
Should I send it to the payment address and put ATTN: INSURANCE DOCUMENTS?
Anyone have an address for Freddie Mac?
FICO 8:
Goal: Gardening!
Goal: Gardening!
Thanks for your help... !!
FICO 8:
Goal: Gardening!
Goal: Gardening!
