Loan Servicing

 

At , we put Service First by doing more than our customer expects.  Our commitment is to thee accuracy of your accounts.  For your convenience, we have outlined some commonly asked questions.  Please do not hesitate to contact us with any other questions or concerns by email, info@cfsbank.com, (please do not send confidential information via. email) or by phone at (800) 462-2786 ext 9245 or (810) 989-2610.

Question/Answer Section

1)  Can I make loan payments on the internet?

Absolutely, it’s quick and convenient to make a payment using the transfer option from your  DDA or savings account to you loan.

2)  Can my payment be automatically deducted from my DDA or 
    savings account?

Yes, you can set up an automatic transfer from you DDA or savings account or another banking institution.  Just contact the Loan Servicing Department or stop by one of our conveniently located Banking Centers for an Authorization form.

3)  How can I change my mailing address on my loan account?

Simply call our Loan Servicing Department or stop by one of our Banking Centers to request a Chang of Address Request.  Once this form has been completed and signed, your account will be changed.


4)  How can I obtain a pay off statement for my loan account?

Contact the Loan Servicing Department to request a loan payoff statement.  For your protection, a signed authorization or personal information may be required to provide this information.


5)  Can I make loan payments at any  Banking Centers?

Absolutely, any of our Banking Centers will be happy to assist you.

6)  How can I remove PMI from my mortgage account?

Once your loan reaches an 80% LTV and meets the requirements to do so, the PMI will automatically be removed from your account and you will be notified by mail.

If you feel you qualify for the PMI to be removed from you loan before that happens, you must submit a written request to have your loan reviewed.  Once a determination is made, you will be notified by mail as to the decision.


7)  How is the monthly escrow payment calculated for a Mortgage
     loan?

The monthly escrow payment is calculated at 1/12 of your annual expenses for homeowner insurance and/or property taxes plus a one month cushion as allowed by law.


8)  How often are escrow analysis statements produced?

An escrow analysis is produced annually, usually on the anniversary of your loan account.

Need Help or Have Additional Questions?

Please call (800) 462-2786 ext 9245 or (810) 989-2610

Loan Servicing Manager: Ruth Putz
Direct phone number (810) 985-0453

Loan Servicing Assistant Manager:  Kathleen Keskimaki
Direct phone number (810) 985-0455