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Payment Information

Payments received will be applied in accordance with the terms of your mortgage note. This generally means that funds will first be applied to any payments past due. Once current, any additional available funds will be applied to outstanding fees, costs and advances prior to being applied as a principal reduction. Should you have any questions regarding a specific payment, please call our Customer Care Department at (800) 282-1149.
You are still responsible for making your payment on time. Please write your loan number on your check or money order and send your payment to the address below. Other payment options are also listed on the Payment Options page on this website.
P.O. Box 660605
Dallas, TX 75266
Late fees are determined by your mortgage documents. If your payment does not reach us within the grace period specified in your mortgage documents, you will be assessed a late fee. Again, this is determined by the date the payment is actually received by Commonwealth Mortgage, LLC and not by the mailing date, postal date, or the date on the check.
We do not use the postmark date from the envelope. Your payment is considered received the day it is received at our payment processing center or operations center.
Payments that are properly noted with your loan number and mailed to the address on your statement will post within 24 hours of the day of receipt provided they are received on any regular business day, Monday through Friday. Payments received on a weekend or holiday will post on the next regular business day.
If two or more weeks have elapsed since you sent the payment, Commonwealth Mortgage, LLC suggests for your protection, that you ask your bank to put a Stop Payment on the check. You will then need to resubmit your payment to Commonwealth Mortgage, LLC. If you elect to place a stop payment on the check, please note that Commonwealth Mortgage, LLC will not be responsible for the stop payment charge from your bank, and a $30.00 returned check fee will be assessed to your account if the check is returned unpaid. Our Customer Care Department at 1-877-279-9034 can assist you with payment methods such as Pay-BY-Phone (payment via the phone).
If you mailed your payment to the prior servicer, please be assured that it will be endorsed and forwarded to Commonwealth Mortgage, LLC for proper credit to your account. If you receive a notice from us that it has not been received, please advise us immediately. Our Customer Care department will work with you to either secure the payment you sent, or make arrangements to resubmit the payment to us.
This is known as a partial prepayment. Assuming your loan is current and has the standard payment application requirements (check your Note, Mortgage and any applicable Riders for details), an amount sent over and above the monthly payment amount will be applied first to any outstanding charges (such as late fees or interest) and then to principal. Also, if your Note has a prepayment penalty, the extra amount, you send could trigger that penalty.
Late charges are specified in your Note or Retail Installment Contract. A payment is considered late one day after the payment due date. However, late charges are assessed in accordance with the "grace period" as identified in your Mortgage Note.

Payoff Information

The balance on your statement is NOT the amount needed to payoff your loan. If you are planning on paying off your loan, you need to order a payoff quote a minimum of 5 business days before your anticipated payoff date. Please be aware that our representatives can not give you a verbal payoff quote.
Yes. Refunds are mailed within 30 days after application of payoff funds. However, keep in mind that your principal balance alone does not represent the total amount necessary to pay your loan in full. Typically a payoff consists of principal, current interest, any fees and potentially may include a prepayment penalty. Therefore, the total to pay off your loan could be considerably higher than your current principal balance.
A simplified way to define Interest in Arrears, is that the current month's payment pays the prior months interest. Interest in Arrears defines the manner in which most mortgage loans are amortized (paid) to maturity.
Yes. If the payoff of your loan will occur after your regular payment due date, you must send a payment to avoid collection calls, late charge, and a possible negative report to the credit bureaus.

Financial Hardship

Yes. We are available to speak to you about options and to possibly make a referral to our Loss Mitigation Department, where trained associates can discuss payment solutions. You may contact our Loss Mitigation Department directly at 1-877-279-9034, Monday - Thursday 8:00 AM - 8:00 PM ET ; Friday 8:00 AM - 5:00 PM ET ; Saturday 8:00 AM - 12:00 PM ET.
The Loss Mitigation Department considers requests for relief due to financial hardship. This information will be required in writing, along with updated financial statements to allow BSI Financial Services, on behalf of Commonwealth Mortgage, LLC to assess the situation and recommend options and appropriate payment plans.
YES. It is important that we know if you are having temporary financial difficulties. If you find you will not be able to meet your obligation on or before your monthly payment due date, please contact us as soon as possible at 1-877-279-9034.
All payments past due under the terms of the original Mortgage or Note (contract) during this Forbearance Agreement continue to accrue monthly late fees. Your account will be reported to the credit bureaus as contractually delinquent until brought current.
No, it may not be too late. We may still be able to help you keep your home.
Please use the self-assessment tools provided on to see if you are among the 7 to 9 million homeowners who may benefit from Making Home Affordable or call us toll-free at 1-866-209-4178 to speak with a qualified counselor in our Collection Department. Based on your results, next step suggestions will be provided. If you qualify based on your result, then print out a copy of the RMA form available in English PDF Format and Spanish PDF Format, complete it and mail it to us.
Yes, we may still be able to assist you. However, these options may be subject to court approval. You may want to consider authorizing your attorney to discuss workout options with us.
Yes, we may still be able to assist you. Contact us at 1-877-279-9034.
There are situations where we can structure a settlement for the shortage to allow the sale to take place. There are also instances where we may accept the short sale without structuring a settlement on the shortage (See workout options - Short Sale.)
If you have any other questions, contact the Loss Mitigation team at 1-877-279-9034.


Commonwealth Mortgage, LLC understands that this can be a very difficult time for you, as such, we have a toll-free number set up to assist you with this process. Please call our Loss Draft Customer Care number at 1-877-279-9034 Monday - Thursday 8:00 AM - 8:00 PM ET ; Friday 8:00 AM - 5:00 PM ET ; Saturday 8:00 AM - 12:00 PM ET. Additional Contact information:

Regular Mail Address:

Commonwealth Mortgage, LLC
Insurance Department
P.O. Box 517 Titusville, PA 16354-0517

Overnight Mail Address:

Commonwealth Mortgage, LLC
314 S Franklin St. 2nd floor, Titusville, PA 16354

If the check is under $10,000, and the loan is current, please forward to Commonwealth Mortgage, LLC prior to endorsing the check. Commonwealth Mortgage, LLC will endorse the check upon receipt and then return it to you so that you can make your repairs. If the check is over $10,000, then Commonwealth Mortgage, LLC is obligated to monitor repairs to the property. Therefore, we ask that you send in the following information:
  • The contractor's proposal
  • The insurance adjuster's report
  • The hazard claim check endorsed by the borrower
Without all 3 pieces of information the Loss Draft's Department will not be able to process your check. If you would like more information, please call the toll-free telephone number listed above.
Yes. If you have a home loan, you must have adequate insurance to cover the structure against loss. Every homeowner's policy has a section to list your mortgage holder as a loss payee. Commonwealth Mortgage, LLC must be listed in the loss payee section. Per your signed Mortgage and Note, you are required to provide evidence of insurance upon request. If Commonwealth Mortgage, LLC does not have proof of coverage, we will notify you that we need this information. Should you receive an insurance request notification, please contact your agent/carrier immediately and advise them to provide us with evidence of insurance, and to ensure they show Commonwealth Mortgage, LLC as loss payee.
This is important for several reasons, which ultimately affect you the customer, your agent/carrier, and Commonwealth Mortgage, LLC. In the unfortunate event that your property suffers a loss, the insurance carrier needs this information to ensure the repairs are completed in a timely manner. Each year your agent/carrier will send out the renewal policy to ensure the servicer of your loan has evidence of insurance. Finally, for escrowed loans where Commonwealth Mortgage, LLC is responsible for paying the annual insurance premium, your agent/carrier must have Commonwealth Mortgage, LLC listed as loss payee with the correct address to ensure that we are billed timely and payment is made to avoid policy cancellation. Please ensure that Commonwealth Mortgage, LLC is listed as loss payee on your insurance policy as follows:
Commonwealth Mortgage, LLC
Insurance Department
P.O. Box 517
Titusville, PA 16354-0517
Per your signed Mortgage and Note, homeowner's insurance is required. Therefore, if proof of continuous coverage is not provided, a policy may be obtained - at your expense - to cover the structure only. Please note that you may be able to obtain homeowner's insurance at considerably less cost to you than the lender placed premium that may be assessed to your account. It is important that you realize that force placed insurance, although paid by you, affords you no coverage for the personal contents or personal liability coverage; it only protects Commonwealth Mortgage, LLC in the event of damage to the structure.
If your property is located in an area designated by FEMA (Federal Emergency Management Agency) as a SFHA (Special Flood Hazard Area), you are required to have flood insurance coverage. You are also required to provide proof of continuous flood insurance coverage if your property is located in a SFHA. If Commonwealth Mortgage, LLC does not have proof of coverage, we will notify you that we need this information.
Per your signed mortgage and note, flood insurance is required if your property is in an area designated as a flood zone. Therefore, if proof of continuous coverage is not provided, a policy will be obtained - at your expense - to cover the structure only.
Lender placed insurance is issued to cover a lapse period only when we have no record of other insurance coverage on file. Upon receiving evidence of insurance that covers that lapse, the lender placed coverage can be fully or partially canceled based on the evidence provided. Whether your loan is escrowed or not, all lender placed premium amounts are billed to an escrow/impound account, and any refunds are credited back to the escrow/impound account accordingly.


If you do not have an existing escrow/impound account with Commonwealth Mortgage, LLC, you are responsible for paying your taxes when they become due. If you have an existing escrow/impound account with Commonwealth Mortgage, LLC, your taxes will be paid when due from your escrow/impound account. Please refer to your Settlement Statement from closing to determine if you have an escrow/impound account established. You may also refer to your monthly billing statement to determine if your monthly payment includes an escrow portion, or contact our Customer Care Department at 1-877-279-9034 to verify this information. You can also view your escrow account if established in the Loan Details Section


An escrow account is a service provided by Commonwealth Mortgage, LLC at no charge to our customers. A portion of your monthly payment is set-aside in this account to accumulate the amount necessary to pay your future taxes and/or insurance when they become due. Generally, an escrow account is set up when you purchased your home or refinanced your loan, in order to allow sufficient time to accumulate the necessary funds to cover future payments.
Your escrow/impound account will be reviewed (analyzed) at least once a year. We will compare the monthly deposits into your escrow account and the projected payments to be made from your escrow/impound account. You will receive a written escrow analysis notifying you in advance of any necessary adjustments to your monthly payment amount.


We comply with state requirements for lien release/satisfaction. However, the actual recording of the lien release/satisfaction is performed by the county, in which the secured property resides. Upon receipt of the lien release/satisfaction document, most counties record the document and return it to Commonwealth Mortgage, LLC within 45 to 60 days. However, some counties can take from 6 to 9 months.
When a borrower refinances their 1st lien mortgage a new mortgage is created. The first mortgage company asks all junior lien holders to remain in a subordinate position so that when the new mortgage is recorded it remains in first lien position. By executing a Subordination Agreement, a junior lien holder agrees to stay in a lower lien position (for example, a second lien).
Commonwealth Mortgage, LLC's Subordination Department will provide a subordination requirements list to you or your mortgage company. If the proposed refinance meets all criteria, and a non-refundable fee is paid, a Subordination Agreement will be executed. To request subordination information in writing, send your request to Commonwealth Mortgage, LLC Financial Services, Attention: Subordination Department, 314 S Franklin St. 2nd floor, Titusville, PA 16354. Please be sure to include your loan number. If you would like to speak to someone regarding the subordination process, you may call us at 1-877-279-9034.
Commonwealth Mortgage, LLC's Subordination Department will provide a requirements list to you or your mortgage company. If the proposed refinance meets all criteria, and a non-refundable fee is paid, a Subordination Agreement will be executed. Please call Customer Care to initiate this process.

Credit Reporting

Yes. Commonwealth Mortgage, LLC reports to the following credit reporting agencies on a monthly basis: Experian, Trans Union, Innovis, and Equifax.
If you believe that Commonwealth Mortgage, LLC has provided inaccurate information to a credit bureau, contact the credit bureau directly:
P.O. Box 1000
Chester, PA 19022
P.O. Box 2104
Allen, TX 75013
Equifax Credit Information Services, Inc.
P.O. Box 740241
Atlanta, GA 30374
Innovis Consumer Assistance
P.O. Box 1358
Columbus, OH
Commonwealth Mortgage, LLC reports to the credit bureaus based on loan status as of each month end.
One of the borrowers may apply to assume the loan and release the other from liability. To determine if your loan is assumable, please forward a written request including a copy of your Driver's License to: Commonwealth Mortgage, LLC, Attention: Assumption Department, 314 S Franklin St. 2nd floor, Titusville, PA 16354. Please be sure to include your loan number. Once this information is received, your Note and Mortgage will be reviewed to determine if your loan is assumable. If your loan is assumable, we will forward an assumption package to you within 15 business days. The assumption process usually takes 4-8 weeks to complete. If your loan is not assumable, you will be notified by mail within 15 business days.

1098 Interest / Tax Form

By the end of January each year, you will be sent a statement (Form 1098) of your account for the previous year's reporting. This statement shows your loan balances as well as the interest you paid since Commonwealth Mortgage, LLC acquired your loan. You may need this information to complete your tax forms. We must also report this information to the IRS if the amount of interest paid is over $600.