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FRAUDULENT CALL ALERT! CapEd has been made aware that members are receiving calls that appear to be from CapEd claiming to need personal information...
We’re thrilled to share that we’re rolling out a brand-new mobile and web-based mortgage servicing platform designed just for you!
CapEd is transitioning over to a Mortgage Servicing software that will allow us to better serve all our Mortgage and HELOC loan members. Using this new platform will give Mortgage and HELOC members benefits like clearer statements and online tools to make payments, request HELOC advances, payoffs, or processes like Private Mortgage Insurance termination.
Beginning April 7th, all your Mortgage information will be accessible through the new Online Mortgage Servicing Platform found within CapEd Online Banking.
Our commitment to your financial wellness drives everything we do, and this tool is here to make your life a whole lot easier.
What can you expect from our new online mortgage servicing platform?
- Make Real-Time Payments: No more waiting! With just a few taps, you can make payments and even request a payoff whenever you need.
- PMI Center: This tool allows you to easily track your Private Mortgage Insurance (PMI) status. You can also see your estimated PMI drop date and monthly payments so you can plan accordingly. You can also easily submit a PMI Removal Request here!
- PMI Removal Requests: If you want to remove your private mortgage insurance (PMI), you can easily submit your request through the platform. More savings mean more financial freedom!
- Escrow Info & Education Tools: Stay informed! Access your escrow information and educational resources with just a few clicks, helping you understand this critical part of your mortgage.
- Home Wealth Tools: Dive into our suite of advanced calculators to help you make informed financial decisions. Whether you want to see the impact of extra principal payments or estimate your home’s value, we’ve got you covered!
- Stay Informed: Receive notifications about any changes to your loan so you’re always in the loop.
- Tax and Insurance Info: Gain insights into your tax payments and insurance details, helping you stay informed about what’s going on with your mortgage. Please consult a tax professional for further tax advice.
Important Dates and Information:
- Beginning April 7th, you can access the new service within CapEd Online Banking.
- You will be receiving a new loan account number prior to April 7th. If you use any automatic payment services like Bill Pay, mailing, or other distribution methods, you will need to provide your new account number to the appropriate parties.
- It is crucial to ensure your contact information, like your mailing address, is current. Learn how to update your mailing address here.
- If you have any automatic transfers set up with CapEd Online Banking, you will need to set up new transfers with your new account number. This will be done using the Online Mortgage Servicing Platform within CapEd Online Banking. Please note that there is a 5-day delay after setup, so automatic transfers cannot be initiated until 5 days after the setup is complete.
- HELOCs will no longer automatically cover overdrafts. You will need to request an advance from your HELOC to your checking account before using the funds.
- Please update any external financial institutions with your new loan number to ensure payments and transfers are received.
- Contact us to help set up your automatic transfers within CapEd Online Banking.
You can find a list of frequently asked questions with answers here:
New Online Mortgage Servicing Platform FAQs
Mortgage Servicing at Your Fingertips!
We’re truly excited about this upgrade and believe it will empower you to take charge of your mortgage like never before. Whether you’re a first-time homebuyer or someone who’s been navigating the mortgage landscape for years, this new tool is designed to enhance your experience.
Stay tuned for more updates as we launch this innovative platform. As always, thank you for being a valued member of CapEd Credit Union. Your financial well-being is our top priority, and we’re here to support you every step of the way!
