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----- FHA RESOURCE CENTER BULLETIN BOARD -----

Posted October 1, 2021

Transfer of Servicing for FHA Subordinate Mortgages

 

Recently, third-party organizations working for FHA sent letters to certain borrowers with FHA-insured mortgages notifying them of a change in their mortgage servicer from Novad to ISN Corporation.  We understand that these letters may have caused some confusion.  If you received a letter from Novad or ISN Corporation, please note that this transfer of servicing does not affect to whom you make your primary mortgage payment.  Please continue to make your primary mortgage payment to the entity listed on your monthly mortgage statement.

For certain borrowers who have FHA-related subordinate mortgages under special mortgage programs, this transfer of servicing means only that ISN Corporation will now answer any questions about the subordinate mortgage.  You do not need to take any action as a result of these letters, nor are you required to make a monthly payment on your subordinate mortgage held by HUD.  Should any payment be due in the future on your HUD-held subordinate mortgage, ISN Corporation will provide notification.