CURRENT TURN TIMES = 24 Hours
  • Registration: 1
  • Underwriting: 1
  • Conditions: 1
  • CD Requests: 1
  • Docs: 1
  • Funding: 1
Times shown in days.

About Us

My Loan

Loan Servicing and Payment Information

Welcome to our Loan Servicing Department. We are happy you have chosen Commerce Home Mortgage as your lender of choice. We are responsible for servicing your loan from the date the loan closes until either we assign, sell or transfer the servicing of your loan or you pay the loan off in full.

We have provided the following frequently asked questions and answers to make it convenient and easier for you to obtain important information regarding our loan servicing process. lf you do not find answers to your questions below, please contact us directly and we will be happy to assist you.

We hope you find this information helpful

Payment & Loan Servicing Questions:

chmservicing@commercemtg.com 1-866-860-2880

Recent Mail from BSI Financial Services

We have received numerous calls from customers regarding a letter received from BSI Financial Services. We want to assure you that this was sent to inform customers that BSI was reporting open mortgages to the credit bureaus in error. Please see sample below. BSI Financial Services requested the credit bureaus delete the reporting in its entirety and sent letters to the affected customers. A copy of this letter can be found here.

What actually occurred?
Commerce contracted with BSI Financial to interim service the loans on our behalf. Upon servicing transfer to the investor or assigned servicer, BSI did not notify the credit bureaus to delete future reporting. Therefore, 2 open loans for the customer would have been reported.
Has my credit been negatively affected by this reporting error?
No. If you determine there has been a negative reporting relating to this error, please contact us immediately to assist you in resolving.
Was this letter in reference to mortgage payments being reported in error?
No. The reporting to the credit bureaus was limited to having an open mortgage.
Do I need to do anything in response to receipt of the letter?
No. Please retain the letter for your records in case a later dispute arises.

Loan Servicing and Payment Information

What is Commerce Home Mortgage’s Contact information?
Mailing Address:
3130 Crow Canyon Place, Suite 300
San Ramon, CA 94583
1-866-860-2880
CHMServicing@commercemtg.com
When will I receive my first correspondence from Commerce Home Mortgage once my loan closes?
We will send you a Welcome Letter once your loan closes. This letter will contain important information relating to your first monthly billing statement and instructions on where to send future mortgage payments and correspondence.
When will I receive my FIRST monthly billing statement?
We will send your first monthly billing statement on or around the 17th of the month prior to your first payment due us. This statement will contain a payment coupon reflecting the total payment due and should be returned with your payment to us.
Will I receive FUTURE monthly billing statements?
Yes. You will continue to receive monthly billing statements from us or from your new if applicable.
I received a Welcome Package from you instructing me to send payments to Dallas, TX and correspondence to Titusville, PA. Is this correct?
Yes. We use a lock box vendor in Dallas, TX to receive and process payments and our core servicing functions are performed in Titusville, PA.

Payment Information

WHO do I make my First payment to?
Please contact CHM servicing dept. to determine who you make your first payment to.
WHO do I make my First payment to?
Please contact CHM servicing dept. to determine who you make your first payment to.
What form of payment do you accept?
First payments are due in the form of personal check, money order, cashier’s check or bill pay through your banking institution.
Will I be charged a late fee?
When a servicing transfer of loan occurs, per RESPA law you are covered for 60 days, no fees will be assessed within that time frame.
Can I set up Automated Payments for my first mortgage payment?
Not at this time. We do not currently accept Automated Payments for your first mortgage payment. You WILL be offered this payment option by your permanent servicer.

Ongoing Payments

Can I pay my monthly mortgage by credit card or over the phone?
No. CHM can only accept personal checks, money ordet, cashier's check or bill pay through your banking institution.
Where can I mail my payment to?
Payment Mailing Address:
3130 Crow Canyon Place, Suite 300
San Ramon, CA 94583
1-866-860-2880
Can I pay my monthly mortgage by credit card, over the phone or automatic withdrawal?
No. At this time, CHM can only accept personal checks, money order or cashier’s check.
WHEN are monthly payments due?
Your monthly payment due date is specified in your mortgage note. Most loans are due on the I't of each month and allow for a grace period to make your payment without being assessed a late charge.
If my payment is due on the 1st and I have a 15 day grace period, when will a late charge be assessed?
Most late charges are assessed after the close of business on the 16th of each month. If the 16th falls on a weekend or holiday, late charges are assessed after the close of business on the next business day. Refer to your Note to determine how many days you have between the due date and the late charge assessment date. Not all loans allow for 15 days.
What if I don’t pay my mortgage payment prior to the 16th of the month in which my payment is due?
We will send you a Late Payment Notice on or around the 17th of each month informing you that we have not received your payment and instructions on where to send your payment. A late charge may be assessed pursuant to the terms of your note.
Can I make partial monthly payments?
We will NOT accept partial monthly payments. The total monthly payment due must be received by us in order to be properly credited to your account.
Will I receive a payment book?
No. Commerce Home Mortgage (CHM) issues monthly statements for your loan if payment is due to CHM. If your loan has been transferred or sold, you will need to reach out to the new lender/servicer to find out their billing method.
How can I know for sure you have received my payment?
Contact CHM Servicing department to confirm your payment was received.

General

When will I receive my year-end statement?
A Mortgage interest statement, also known as a Tax Form 1098, will be issued no later than January 31st of the following calendar year. Please contact our Servicing Department if an additional copy is needed.
What happens if my loan is sold and servicing is transferred?
We will send you a Notice of Service Transfer notice containing the new servicer name, contact information for the future correspondence/inquiries and effective servicing transfer date. You can continue with us until the effective servicing transfer date. Shoul you have difficulty in getting your concerns addressed or issues resolved with the new servicer after the effective servicing transfer date, please contact us and we will be happy to assist you.
If the servicing of my loan is transferred, when should I expect to receive communication from my new servicer?
Your new servicer should send correspondence to you within 15 days prior to the effective servicing transfer date.
What if I have questions, concerns or issues related to the transfer of my loan and servicing?
We will send you a Notice of Servicing Transfer and it will contain the new company name, contact information for future correspondence/inquiries and effective servicing transfer date. You can continue to correspond with CHM until the effective servicing transfer date. Should you have difficulty in getting your concerns addressed or issues resolved with the new servicer after the effective servicing transfer date, we are happy to assist you and coordinate efforts with the new servicer.
Do you have a website where I can review my account information?
Not at this time. It is currently in development.
What is your Mortgagee Clause?
Commerce Home Mortgage Inc.
ISAOA
3130 Crow Canyon Place Suite 300
San Ramon, CA 94583