Title 12
PART 1024 APPENDIX MS
| Current Servicer: | New Servicer: |
| [Name of present servicer] | [Name of new servicer] |
| [Individual or Department] | [Individual or Department] |
| [Telephone Number] | [Telephone Number] |
| [Address] | [Address] |
[Use this paragraph if appropriate; otherwise omit.] Important note about insurance: If you have mortgage life or disability insurance or any other type of optional insurance, the transfer of servicing rights may affect your insurance in the following way:
You should do the following to maintain coverage:
Under Federal law, during the 60-day period following the effective date of the transfer of the loan servicing, a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you.
[NAME OF PRESENT SERVICER] Date [and] [or] [NAME OF NEW SERVICER] Date [78 FR 10886, Feb. 14, 2013]Appendix MS-3 to Part 1024
12:8.0.2.1.19.5.1.1.57 : Appendix MS
Appendix MS-3 to Part 1024 Model Force-Placed Insurance Notice Forms Table of Contents MS-3(A) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(c)(2) MS-3(B) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(d)(2)(i) MS-3(C) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(d)(2)(ii) MS-3(D) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(e)(2) MS-3(A) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(c)(2) [Name and Mailing Address of Servicer] [Date of Notice] [Borrower's Name] [Borrower's Mailing Address] Subject: Please provide insurance information for [Property Address] Dear [Borrower's Name]:Our records show that your [hazard] [Insurance Type] insurance [is expiring] [expired] [provides insufficient coverage], and we do not have evidence that you have obtained new coverage. Because [hazard] [Insurance Type] insurance is required on your property, [we bought insurance for your property] [we plan to buy insurance for your property]. You must pay us for any period during which the insurance we buy is in effect but you do not have insurance.
You should immediately provide us with your insurance information. [Describe the insurance information the borrower must provide]. [The information must be provided in writing.]
The insurance we [bought] [buy]:
• May be significantly more expensive than the insurance you can buy yourself.
• May not provide as much coverage as an insurance policy you buy yourself.
If you have any questions, please contact us at [telephone number].
[If applicable, provide a statement advising a borrower to review additional information provided in the same transmittal.]
MS-3(B) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(d)(2)(i) [Name and Mailing Address of Servicer] [Date of Notice] [Borrower's Name] [Borrower's Mailing Address] Subject: Second and final notice - please provide insurance information for [Property Address] Dear [Borrower's Name]:This is your second and final notice that our records show that your [hazard] [Insurance Type] insurance [is expiring] [expired] [provides insufficient coverage], and we do not have evidence that you have obtained new coverage. Because [hazard] [Insurance Type] insurance is required on your property, [we bought insurance for your property] [we plan to buy insurance for your property]. You must pay us for any period during which the insurance we buy is in effect but you do not have insurance.
You should immediately provide us with your insurance information. [Describe the insurance information the borrower must provide]. [The information must be provided in writing.]
The insurance we [bought] [buy]:
• [Costs $[premium charge]] [Will cost an estimated $[premium charge]] annually, which may be significantly more expensive than insurance you can buy yourself.
• May not provide as much coverage as an insurance policy you buy yourself.
If you have any questions, please contact us at [telephone number].
[If applicable, provide a statement advising a borrower to review additional information provided in the same transmittal.]
MS-3(C) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(d)(2)(ii) [Name and Mailing Address of Servicer] [Date of Notice] [Borrower's Name] [Borrower's Mailing Address] Subject: Second and final notice - please provide insurance information for [Property Address] Dear [Borrower's Name]:We received the insurance information you provided, but we are unable to verify coverage from [Date Range].
Please provide us with insurance information for [Date Range] immediately.
We will charge you for insurance we [bought] [plan to buy] for [Date Range] unless we can verify that you have insurance coverage for [Date Range].
The insurance we [bought] [buy]:
• [Costs $[premium charge]] [Will cost an estimated $[premium charge]] annually, which may be significantly more expensive than insurance you can buy yourself.
• May not provide as much coverage as an insurance policy you buy yourself.
If you have any questions, please contact us at [telephone number].
[If applicable, provide a statement advising a borrower to review additional information provided in the same transmittal.]
MS-3(D) - Model Form for Force-Placed Insurance Notice Containing Information Required by § 1024.37(e)(2) [Name and Mailing Address of Servicer] [Date of Notice] [Borrower's Name] [Borrower's Mailing Address] Subject: Please update insurance information for [Property Address] Dear [Borrower's Name]:Because we did not have evidence that you had [hazard] [Insurance Type] insurance on the property listed above, we bought insurance on your property and added the cost to your mortgage loan account.
The policy that we bought [expired] [is scheduled to expire]. Because [hazard][Insurance Type] insurance] is required on your property, we intend to maintain insurance on your property by renewing or replacing the insurance we bought.
The insurance we buy:
• [Costs $[premium charge]] [Will cost an estimated $[premium charge]] annually, which may be significantly more expensive than insurance you can buy yourself.
• May not provide as much coverage as an insurance policy you buy yourself.
If you buy [hazard] [Insurance Type] insurance, you should immediately provide us with your insurance information.
[Describe the insurance information the borrower must provide]. [The information must be provided in writing.]
If you have any questions, please contact us at [telephone number].
[If applicable, provide a statement advising a borrower to review additional information provided in the same transmittal.]
[81 FR 72376, Oct. 19, 2016]Appendix MS-4 to Part 1024 - Model Clauses for the Written Early Intervention Notice
12:8.0.2.1.19.5.1.1.58 : Appendix MS
Appendix MS-4 to Part 1024 - Model Clauses for the Written Early Intervention Notice MS-4(A) - Statement Encouraging the Borrower To Contact the Servicer and Additional Information About Loss Mitigation Options (§ 1024.39(b)(2)(i), (ii) and (iv))Call us today to learn more about your options and instructions for how to apply. [The longer you wait, or the further you fall behind on your payments, the harder it will be to find a solution.]
[Servicer Name] [Servicer Address] [Servicer Telephone Number] [For more information, visit [Servicer Web site] [and][or] [Email Address]]. MS-4(B) - Available Loss Mitigation Options (§ 1024.39(b)(2)(iii))[If you need help, the following options may be possible (most are subject to lender approval):]
• [Refinance your loan with us or another lender;]
• [Modify your loan terms with us;]
• [Payment forbearance temporarily gives you more time to pay your monthly payment;] [or]
• [If you are not able to continue paying your mortgage, your best option may be to find more affordable housing. As an alternative to foreclosure, you may be able to sell your home and use the proceeds to pay off your current loan.]
MS-4(C) - Housing Counselors (§ 1024.39(b)(2)(v))For help exploring your options, the Federal government provides contact information for housing counselors, which you can access by contacting [the Consumer Financial Protection Bureau at [Bureau Housing Counselor List Web site]] [the Department of Housing and Urban Development at [HUD Housing Counselor List Web site]] or by calling [HUD Housing Counselor List Telephone Number].
MS-4(D) - Written Early Intervention Notice for Servicers Subject to FDCPA (§ 1024.39(d)(2)(iii))This is a legally required notice. We are sending this notice to you because you are behind on your mortgage payment. We want to notify you of possible ways to avoid losing your home. We have a right to invoke foreclosure based on the terms of your mortgage contract. Please read this letter carefully.
[78 FR 10887, Feb. 14, 2013, as amended at 81 FR 72376, Oct. 19, 2016; 82 FR 30948, July 5, 2017]