Woodard Mortgage Group


What to Expect after Closing

Post-Closing - What to Expect Next

Approximately 1-2 weeks after closing, your new loan servicer will audit your file and may ask for additional information. You may be contacted at this time by a member of our team if anything additional is requested.

About 2-3 weeks after closing, you will receive your First Payment Letter and Notice of Transfer with details for your new loan servicer and how to make your first payment.

1. If the payment is due to CIMG, you will receive CIMG Residential’s First Payment Letter, and may send a check to the Raleigh office. A check is the only form of payment we can accept, and additional principle cannot be added to this check amount. We do not need the signed coupon letter back as it is just for your reference.

2. If the payment is due to your servicer, we will be sending the Notice of Transfer, along with the new servicer’s First Payment Letter, including all information needed to make the payment directly to the new servicer.

*Payments can take 2-3 weeks to clear your bank as we deposit in bulk.

For refinances we will update your homeowner’s insurance mortgage information at this time as well.

We collect payments based on the date the loan is purchased. Sometimes we assume the payment will be coming to us, and we are requesting it ahead of time in order to avoid a delay. If we request the payment, but it needs to go to the mortgage servicer, then we will send your payment directly to the mortgage servicer once the transfer is complete.

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