3. View General Answer
The fastest method for communicating with Shore Mortgage is by utilizing our
Case Tracking System. This web based system enables Shore Mortgage to quickly
answer your questions and resolve issues or problems with your account. Another
benefit of using this method is that you have an efficient way to communicate your
message and receive ours, while maintaining a record of your conversation for easy
reference. You can access the Case Tracking System by logging into your web account
Contacting Customer Service by Phone
Customer Service Representatives are available at (855) 281-8800, from
5:00 AM to 5:00 PM PT Mon-Fri.
Contacting Customer Service by Mail
Contact us by mail at Shore Mortgage, P.O. Box 5914,
Santa Rosa, CA 95402-5914
Login to your online account and select My Profile. Here you will be able to update
your phone number, mailing address, and email information.
Any accumulated late charges will be added to the amount due. This includes late
charges for any payments that are past due at the time of payoff.
If you have made a legal change to your name, Shore Mortgage needs to be notified.
There are some requirements that may need to be met before we can change our records.
You should contact our Customer Service Department before you send any documentation.
Please use the web site to open a Case with a Customer Service Representative or
call (855) 281-8800. The representative will pass your request on to a Specialist,
who will send you a written notice of the appropriate requirements.
Interest shown on the payoff statement is calculated to its expiration date. A per
diem (per day) interest amount will be included, to be added to the payoff amount
if the payoff is sent after the expiration date. If your loan is paid ahead, the
payoff amount will be reduced by any interest not yet due. For example, if the payoff
statement expiration date is September 1st and the account is paid through November
1st, the interest paid ahead will be subtracted from the required payoff amount.
Upon receipt of the payoff amount, the actual interest charged includes interest
up to but not including the date of receipt. Remember that interest is collected
in arrears. For example, if the September 1st payment (which includes interest accrued
from the month of August) has been made and your loan is paid in full on September
15th, interest will be due for the first fourteen days of September.
Some loans require that a prepayment fee be assessed if the loan is paid in full
before a certain period of time. This is also referred to as a prepayment penalty.
If your Mortgage Note includes a Prepayment Penalty clause, the fee will be calculated
according to the specific terms in your Mortgage Note.
Payments are due on the 1st of each month. Late fees are assessed after the 16th
of the month or the following business day on any account still outstanding. Additionally,
late notices are mailed to all delinquent borrowers. The Collections Department
may also call you to check the status of past due payments. As a courtesy to new
borrowers who may be unsure of their first payment date, a reminder notice is sent
if payment has not been received by the 8th or 9th of the month.
Shore Mortgage currently uses payment coupons for billing. While monthly statements
are not provided, very detailed account information is available free of charge
. Our secure website contains much more information than might be made available
in a monthly statement. We encourage you to create a username and password to closely
monitor your account and take advantage of this information.
You will receive a Coupon book approximately two weeks after your loan funds. If
you do not have an impound/escrow account, this book will contain 12 coupons. If
your loan is an impounded/escrowed account you may receive less than 12 coupons.
This is because escrow accounts are typically analyzed on an annual basis and the
month is determined by the state in which your property is located. If there are
changes to your property tax or homeowner’s insurance amounts, this will cause a
change to your escrow payment. In the event of a payment change, a new coupon book
will be ordered for you automatically. Shore Mortgage will always provide you
a minimum of 25 days advance notice of any payment change.
Coupon books are mailed automatically on an annual basis; it is not necessary for
you to request a new book. You may check on the status of your next coupon book
order at www.shoremortgage.servicemyloan.com
or by contacting Customer Service.
Shore Mortgage offers four convenient ways to make monthly mortgage payments:
- Payments may be made for free online at www.shoremortgage.servicemyloan.com.
- Check or money order can be sent by mail.
- ACH service (automatic withdrawal from your bank account) is available
by filling out the online form at www.shoremortgage.servicemyloan.com or requesting a copy of the form from Customer Service.
- Payments via phone from your checking account may be transacted for
fee by calling Shore Mortgage’s Easy Pay Line at (888) 593-2729.
Please note that Shore Mortgage
cannot accept credit cards or biweekly payments at this time. Online payments will post to your
Shore Mortgage account the same business day if the payment was entered before
5:00 PM PST. Payments submitted after 5:00 PM PST, on holidays, or weekends will be processed the following
business day. Phone payments made by 3:00 PM PST will post same-day to your loan. Any payment made
after 3:00 PM PST will be posted the following business day, excluding federal holidays.
Shore Mortgage does not currently offer a biweekly payment program. Unless your
loan includes a prepayment penalty, you are free to make additional payments for
principal reduction together with any monthly payment. You are also free to make
an extra payment once per year or you could divide your monthly payment by 12 and
send that amount, plus your regular payment, every month. Upon receipt, these additional
principal payments are applied towards reducing the balance of your loan immediately
and the results in terms of interest savings will be similar to a biweekly payment
program. Please note that third party companies may offer to save you interest by
setting up biweekly mortgage payments. However, this service normally comes with
both an enrollment fee and a monthly processing fee and should be agreed to only
after careful consideration.
If Shore Mortgage receives a payment from you that is due to another mortgage
company, your check will automatically be endorsed and forwarded to the new mortgage
company. In the event that your payment is applied at Shore Mortgage prior to
the loan being sold, funds will be disbursed to the new mortgage company for any
payments due to them. All payments are forwarded via overnight mail.
Shore Mortgage cannot modify the payments on your existing fixed rate loan. However,
though the payment amount will not change, your loan will amortize at a faster rate.
In order to reduce your monthly payment, you must refinance for the new balance
on the loan. If your loan is an adjustable rate loan, the monthly payment will be
adjusted periodically in accordance with the terms of the Promissory Note to fully
amortize the remaining balance within the remaining term. Your monthly mortgage
payment may be reduced after a principal reduction but that reduction may be offset
by an increase in your interest rate.
You can make extra payments towards principal of up to $50,000 free of charge online
who submit payment using coupons or billpay can add extra principal with their regular
monthly payments. Any amount greater than $50,000 requires special handling and
should be sent to: United Shore Financial Services, LLC - Loan Servicing, P.O. Box 513738, Los Angeles, CA 90051-3738
Any mortgage insurance premiums due on a mortgage loan by the expiration date of
the payoff statement will be collected in the payoff amount.
You may print a payoff statement immediately, by logging into your www.shoremortgage.servicemyloan.com
web account and visiting the "Forms"
link. payoff statement requests made via fax will be processed within 3 business
It is important that you continue to make your monthly payments until the day your
loan payoff funds are received by Shore Mortgage. Failure to make a monthly payment
is a default under the terms of your Promissory Note and may result in a negative
report being made to the Credit Reporting Agencies. Any over payment of principal
or interest included with the payoff amount sent to Shore Mortgage will be refunded
to you within two weeks of the loan payoff.
Payoff figures are always subject to change due to new fee assessment, payment activity,
and escrow account activity. If payoff funds are received after the expiration date
of the payoff statement, the interest amount due will be different. You or your
agent should request for updated payoff statement to confirm that no changes have
The payoff statement may be based upon payments that were received but have not
yet cleared your bank. If a payment is returned NSF (non-sufficient funds) after
your loan is paid off, Shore Mortgage reserves the right to adjust the payoff
figures. Interest will continue to accrue on the loan until Shore Mortgage has
received all amounts due.
Any escrow funds advanced by Shore Mortgage to pay your bills because there were
insufficient funds in your escrow account will be collected at the time of payoff.
Your escrow deposit is equal to 1/12th of the total bills Shore Mortgage anticipates
paying on your behalf during the next year, including any shortage amount as permitted
by federal and/or state law and your mortgage contract. This deposit is based on
the way your mortgage terms are written.
Shore Mortgage will review your impound/escrow account annually. The month during
which your impound/escrow account is reviewed is determined by the state in which
your property is located.
An increase in your monthly escrow payment is caused by an increase in property
taxes, an increase in the homeowner or flood insurance premium, or a shortage of
funds. Changes in the tax amount can occur because of increased property values
or higher budget demands by the jurisdictions who receive property tax dollars,
and/or additional or increased levies. Changes in the homeowner or flood insurance
amount can occur because of an increase in the annual premium charged by your insurance
provider or as a result of a change to the terms of your policy.
If your impound/escrow account balance is greater than the balance required at the
time of your analysis, your impound/escrow account has a surplus of funds. If your
loan account is not delinquent, Shore Mortgage will automatically send you a
check refunding the surplus to you, unless it is less than $50.00. In this case
the funds will remain in your impound/escrow account and your payment will be adjusted
If your impound/escrow account balance is less than the minimum balance required
at the time of your analysis, your escrow account has a shortage of funds.
1) Repay the total shortage immediately. This reduces your monthly payment by 1/12th of the amount repaid. If you choose to repay the shortage in full, we encourage you to make a free, escrow-only online payment from your checking or savings account. Once your payment is credited to your loan account, please login to your online account and open a case under “Contact Us” to our Loan Servicing Center to request a new escrow analysis to lower your monthly payment.
You may also mail a check with the special coupon provided in your Annual Escrow Account Disclosure Statement to:
P.O. Box 513738
Los Angeles, CA 90051-3738
Attention: Customer Service
2) Repay the shortage over the next 12 months. This option is interest-free but increases your monthly payment by 1/12th of your total escrow account shortage. You do not need to contact us to choose this option as we have automatically included the monthly shortage amount in your new monthly payment. Your new monthly payment amount will be shown on your Annual Escrow Account Disclosure Statement and your new payment coupons.
Information on your Annual Escrow Account Disclosure Statement includes historical
activity; the expenses paid for you during the last year by Shore Mortgage and
a projection of the expenses to be paid for the coming year.
In the event you believe the calculations are incorrect or you have access to more
current estimates from the taxing authority or your insurance provider, please contact
our Customer Service Department immediately by using the web site to open a Case
with a Customer Service Representative or by calling (855) 281-8800. Shore Mortgage
will use your documented information to recalculate your account, possibly resulting
in a lower impound/escrow monthly payment amount. IMPORTANT:
Only the taxing authority or your insurance company can change the amount of the
bill paid on your behalf.
Your IRS form 1098/1099 will be mailed no later than January 31st of the new year.
Please allow 2 weeks for mail delivery. A copy of your IRS form 1098/1099 will be made
available by January 31st for immediate download at www.shoremortgage.servicemyloan.com
by logging into your account and visiting the "Letters" link.
Shore Mortgage cannot advise you regarding the preparation of your income tax
returns. Your personal tax advisor should answer any question about the preparation
of your annual tax returns.
To visit the website of the Internal Revenue Service you may use the address www.irs.gov
If your loan is not escrowed for tax payment by Shore Mortgage, you should pay
the amount due to the taxing authority listed on your bill. If your loan is escrowed
and the tax bill you received has not been paid, please write your loan number on
the bill and fax it directly to our Tax Department at (707) 547-4078, or mail it to:
Shore Mortgage, P.O. Box 5914, Santa Rosa, CA 95402-5914.
Many times tax payments made by mortgage companies are paid in installments rather
than in one lump sum. It is also possible that two bills were paid in the same calendar
year if the due date is near January 1st each year. Shore Mortgage does not report
tax disbursements paid from your escrow account to the IRS. For more information
on tax disbursements made from your account on your behalf, please look at your
account transactions on the "History" page of the www.shoremortgage.servicemyloan.com website.
Shore Mortgage will mail your individual IRS form 1098/1099 by January 31st.
Each Mortgage Company, including Shore Mortgage, will provide information for
the period of time your loan was serviced. Mortgage Companies are not required to
report to you or the IRS if the total interest paid on your account was less than
$600. However, it is Shore Mortgage policy to send you an IRS form 1098/1099
if you paid any amount of interest during the year.
If you are interested in refinancing your loan, please call (866) 784-3161 or go to www.shoremortgage.com.
When your loan closed, you received copies of your loan documents. Should any of
your documents be misplaced or destroyed, Shore Mortgage can provide copies to
you. To request a copy of a document at no charge, please send your request in writing to Customer
Service, P.O. Box 5914, Santa Rosa, CA 95402-5914. For expedited service, you may
call customer service at (855) 281-8800 and request a document verbally with a customer
service representative. The following fees apply to expedited document requests:
- Copy of Note: $20
- Copy of Mortgage (Deed of Trust): $20
- Copy of Settlement Statement: $20
- Additional Fees for Faxing Documents at the Customer’s Request: $10
Fees are subject to change without notice. Additional fees may be assessed for other
services not listed which would be disclosed at the time of order. To request one
of the above items, please send your request and a check made payable to Shore Mortgage
(please do not send cash) to: Customer Service, P.O. Box 5914, Santa Rosa, CA 95402-5914.
Shore Mortgage is listed as a payee due to the financial interest we have in
your home. When you receive your insurance check, you should send it to Shore Mortgage for processing.
More than likely, this bill is an assessment or supplemental bill. Some taxing authorities
will send this type of bill because an additional amount is due that was not assessed
at the beginning of the current tax cycle. You may wish to contact your local taxing
authority for clarification.