McCoy Has Not Sold Your Mortgage Loan
However, Your Loan Servicer is Changing
On April 1, 2022, the servicing of your McCoy Federal Credit Union mortgage loan will be transferred to Dovenmuehle Mortgage, Inc. (DMI) to be subserviced under contractual agreement. DMI will collect and process your payments while providing you with enhanced technology and features. Please note that McCoy retains ownership of your mortgage.
Important Details Regarding This Change
- Dovenmuehle Mortgage, Inc. will collect your mortgage payments, distribute your mortgage statements, and provide all other mortgage services.
- Any recurring payments set up from your McCoy Federal Credit Union account will be canceled and need to be set up again through the new portal that is accessible from within myMcCoy online banking or the mobile app.
- If you are currently making payments through Bill Pay or another financial institution, it’s your responsibility to notify them of your new loan number and payment mailing address. Please refer to the 'Notice of Servicing Transfer' that was mailed to you for your new loan number.
- McCoy Federal Credit Union will notify your insurance provider of the transfer.
Frequently Asked Questions
Is my loan being sold to another Lender?
No, McCoy Federal Credit Union still owns your loan. It will only be serviced by DMI.
What if I already sent my payment to McCoy Federal Credit Union?
If McCoy receives a payment on or after April 1, 2022, it will be forwarded to DMI for application. This may delay the posting of your payment but will not negatively impact your loan within the first 60 days of the servicing transfer.
My mortgage payment automatically drafts from my McCoy Federal Credit Union account. Will I need to do anything?
Yes, your current recurring payment will be canceled as of April 1, 2022. The fastest and easiest way to establish a new automatic payment is through the direct link within the myMcCoy online banking and mobile app. Once redirected, you can set up one-time or recurring payments. Please note that you may schedule automatic recurring payments up to the fifth day of each month—any payments made after the fifth must be processed as a one-time payment or made via phone or mail. Phone payments will incur an additional charge.
My payment is due—where do I mail a payment?
Mail your payment to:
McCoy Federal Credit Union
P.O. Box 660592
Dallas, TX 75266-0592
What happens to my mortgage within online banking and the mobile app?
You will be able to click or tap on your mortgage loan within myMcCoy online banking and the mobile app, which will redirect you to the new and improved servicing website for setting up one-time or recurring payments, loan details and more. Please note that to use the mobile app, your device needs to have software version 7.0 and higher for Android and 11.0 and higher for iOS.
I use Bill Pay to pay my monthly mortgage payment. What should I do?
If you currently make payments through Bill Pay or another financial institution, please update the payee information and your loan number to ensure your payment applies correctly and reflects the new payment mailing address.
Do I need to update my homeowner’s insurance?
McCoy Federal Credit Union will notify your insurance provider of the transfer. To ensure timely payments of your insurance premiums, please verify that your agent has updated their records for future invoices and the “mortgagee” clause to match the following:
McCoy Federal Credit Union
its successors and/or assignees
P.O. Box 961292
Fort Worth, TX 76161-0292
How will I view my mortgage information with the new servicer?
Log in through myMcCoy online banking or mobile App and use the direct link to access the new mortgage servicing website where you can view your monthly statements; make online payments or set up autopay; and view your principal, interest, and escrow balances. If you wish, you can also request to receive notifications and alerts by email and request a payoff for your loan.
If you are not currently enrolled in myMcCoy - you can access the new mortgage servicing website from our home page at mccoyfcu.org - click on LOANS & CREDIT CARDS from navigation menu - from dropdown, click on MANAGE MY MORTGAGE.
Please note - if this is your first time visiting the mortgage servicing website, you will need to REGISTER.
What phone number do I call for questions concerning the servicing of my mortgage after the transfer?
1-855-478-0376 | 8:00 a.m. – 5:00 p.m. Eastern Time | Monday – Friday