Whaddaya DO all day: PenFed mortgage refinance

[rayvt]

I always use my banks bill-pay service to push the payments out. That is far easier to set up and to change than having the biller do a pull. Also, the bill-paying service guarantees that the payment will get there, or they'll cover any late charges.

 

[brewer12345]

I'm relieved to see that my paranoia has a purpose.

I should probably push the money to them instead of letting them pull it. The "good" news is that it's just the P&I payment, no impound account or add'l principal payments, and we're not going to pay them a penny more than we owe them until we pay it off after my 80th birthday...

Your post reminded me that we got a letter last week from Fannie Mae announcing their ownership of our mortgage but cautioning us that PenFed was still the servicer. I've never received one of those letters before.

I started by pushing to them and found out they could not manage to apply the extra cash properly to principal. But when I had them pull, it was no problem. YMMV, but you might have to try it more than one way.

I am very surprised that Fannie sent you a notice. Never heard of that before. I thought all servicing was invisible to the borrower.