Frequently Asked Questions (FAQs)
If you have questions about your loan with Servbank and would like to speak to someone, please give us a call at (866) 867-0330. Our team members are available Monday – Friday 8:00 am – 9:00 pm ET & Saturday 8:00 am – 12:00 pm ET to help you.
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TMS to Servbank Transfer
Goodbye The Money Source, Hello Servbank!
We are excited to announce that The Money Source Inc.'s (TMS) Servicing Operations are being rebranded as Servbank on 4/1/2023. On 4/1/2023, all loans serviced by TMS will transfer servicing from The Money Source to Servbank.
Though the name is changing, you will still get the same great team and same Rock Solid Service you have come to expect as a customer of TMS.
We've put together the Q&A below to help with this transition: Servbank FAQs.
What is “Servbank”?
The Money Source, your mortgage servicer, is converting to Servbank.
Servbank is a dba of Allied First Bank, sb, an Illinois state chartered bank.
Was my loan sold, why is this happening?
Your loan was not sold. The Money Source is simply rebranding our servicing operations as we transfer to Servbank.
While we'll have a new name, it will still be us - the same great team you've come to trust and the same Rock Solid Service you've come to expect.
Will my loan number change now that I am with Servbank?
Will my monthly Automatic Payment transfer to Servbank?
To keep your enrollment in our ACH Recurring Payment Program, you must provide authorization to transfer your Automatic Payments. Please opt into the Service Transfer Preferences prior to 4/1/23 for ACH Recurring Payments by clicking here. Please note: If you do not opt in prior to 4/1/23, your April 2023 payment will NOT draft and you will be required to use alternative means to make your monthly payment.
If you opt to transfer your ACH to Servbank, Servbank will accept your existing authorization. Your scheduled April ACH to Servbank may be delayed up to one week due to the transfer and will draft between April 3-10, 2023. All monthly payments after April 2023 will resume drafting on your previously authorized day of the month.
Bank Bill Pay:
If you are using BillPay through your bank, please update the payee name from 'The Money Source' to 'Servbank'. Payments made out to The Money Source will only be accepted by Servbank for the first 60 days following transfer (through June 1, 2023).
If I sent in a payment addressed to TMS, will it be honored by Servbank, or do I need to send in a new payment and cancel the other?
Is there a new payment address for Servbank?
No. You can still send your payment to:
P.O. Box 650094
Dallas, TX 75265-0094
Is there a new phone number for Servbank?
Will my payment due date change?
Will there be a new customer website?
Can I use my same login ID and password on the new Servbank website?
How soon can I use the new customer website?
Will there be a mobile app for Servbank?
"Yes. If you search 'Servbank' on the Apple or Android app store, you will find our new smartphone app, 'Servbank Mortgage' available for download.
Your log in credentials for the Servbank Mortgage app will be the same as the credentials you set up for the TMS mobile app.
The Servbank app will be available to download prior to April 1, 2023 and will be available for customers to login on or after April 1, 2023."
Will anything change with my homeowner’s insurance or taxes? Do I need to notify those entities?
Will anything change with my escrow account?
Will credit reporting change on my credit report?
Yes. Servbank will replace The Money Source on your mortgage tradeline as reflected on your credit report. The Servbank name will appear once the transfer occurs on 04/1/2023.
Previously reported credit reporting information specific to your loan will be retained and reported under Servbank.