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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.

Frequently Asked Questions and Answers

Commerce Home Mortgage Serviced loans

    • 3130 Crow Canyon Place, Suite 300
      San Ramon, CA 94583
      1-866-860-2880
      CHMServicing@commercemtg.com
    • 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.
    • 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.
    • Yes. You will continue to receive monthly billing statements from us or from your new if applicable.

    • 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.
    • Please contact CHM servicing dept. to determine who you make your first payment to.
    • First payments are due in the form of personal check, money order, cashier’s check or bill pay through your banking institution.
    • 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.
    • 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.
    • No. CHM can only accept personal checks, money ordet, cashier's check or bill pay through your banking institution.
    • Payment Mailing Address:
      3130 Crow Canyon Place, Suite 300
      San Ramon, CA 94583
      Phone: 1-866-860-2880
    • No. At this time, CHM can only accept personal checks, money order or cashier’s check.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • Contact CHM Servicing department to confirm your payment was received.
    • 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.
    • 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.
    • Your new servicer should send correspondence to you within 15 days prior to the effective servicing transfer date.
    • 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.
    • If you have received a welcome letter from Commerce Home Mortgage, you may access your online account by visiting here.
    • Commerce Home Mortgage Inc.
      ISAOA
      3130 Crow Canyon Place Suite 300
      San Ramon, CA 94583

BSI Serviced Loans

    • If you received a letter stating the servicing of your mortgage loan is being transferred to BSI Financial Services, please note the following:
      • The transfer notice will indicate the payment effective date.
      • BSI Financial Services will be sending you a welcome package with payment instructions.
      • Online accounts may be set up after you receive the welcome notice from BSI Financial Services by visiting myloanweb.com/bsi.
    • Payments made payable to Commerce Home Mortgage will be forwarded to BSI Financial Services for processing:

      • It may take several days for your payment to be processed and applied to your account.
      • BSI Financial Services will not assess a late charge to your account if you continue to make your payments on time.
    • If you received a Transfer Notice dated December 16, 2016 indicating your automatic ACH drafting/deducting of your monthly payment from your bank account will be discontinued on the effective date of the transfer, please note the following:

      • BSI Financial Services will automatically draft your next payment from your bank account
      • A revised Transfer Notice will be sent to Borrowers with automatic drafting/deductions previously set up with Commerce Home Mortgage to advise you will not need to set up new automatic drafting/deductions with BSI Financial Services.
      • If your monthly payment is sent via bill pay service, you must cancel online bill pay OR change the payee and payment address to:
        BSI Financial Services
        P.O. Box 679002
        Dallas, TX 75267-9002
    • This transfer does not affect any terms or conditions of your loan documents other than terms directly relating to the servicing of your loan.
    • Yes, BSI Financial Services will work with you to continue this process with minimal disruption. To continue this process, or if you have any questions regarding your loan on or after the transfer date, please contact Customer Service at (814) 217-1366.
    • It is common practice in the mortgage industry to sell or transfer the servicing of a loan. We will do our best to make this transition seamless.
    • BSI Financial Services did not purchase your loan but services your loan on behalf of Fannie Mae.
    • The unpaid balance in your escrow account will be transferred to BSI. BSI will continue to pay your property tax, homeowner’s insurance premium and/or mortgage insurance premiums timely.
    • BSI is prepared to answer any questions you may have regarding your recent loan servicing transfer. Please feel free to contact BSI at (814) 217-1366 or email customercare@bsifinancial.com

Payment & Loan Servicing Questions:


1-866-860-2880