Received a notification?
Why did I receive a notification by phone, mail or email?
The Lutherville CBC National Bank mortgage office reviews data on thousands of nationwide FHA and VA mortgages daily. We flag FHA and VA loans that are believed to have higher than market interest rates and mortgage payments. The flag triggers our office to contact the borrowers to determine if the loans are truly eligible to participate in an FHA streamline or a VA streamline program.
If notified, you could be overpaying your existing loan servicer, on the basis of paying a higher rate when a lower rate is or has been available. This does not mean that your lender has wrongfully overcharged you. Be advised that loan overpayment does not imply any financial or ethical wrongdoing or on behalf of your existing mortgage company. Your loan being flagged means that you may have not proactively acted to take advantage of available payment reduction opportunities. This does not mean that it is too late!
We may have contacted you to reduce your payment, interest rate and/or loan term. Please do not be alarmed. Although your loan may have been flagged, you still may have time to register your loan and participate in the program. The only way to know for sure why you were contacted is to check your status online or call us now at 1-866-995-7514. One of our Payment Reduction Specialists will be happy to explain the notification and the program and answer any of your questions as well.
When you call we will…
- Quickly and simply explain how the program works.
- Confirm that you are eligible for a lower payment, lower interest rate and/or shorter loan term, regardless of why you did not act upon previous opportunities to participate in the streamline payment reduction program.
- Answer any of your program-related questions.
- Show you how to take advantage of the available options before they expire.