Hello Letter

Hello letter is the notice sent by the incoming loan servicer to the borrower after a servicing transfer, introducing the new servicer and providing the borrower with updated payment instructions, contact information, and account details. Under RESPA, the incoming servicer must send this notice no later than 15 days after the transfer effective date. The hello letter is the counterpart to the goodbye letter sent by the outgoing servicer, and together they form the required borrower notification for any servicing change.

For mortgage note investors, the hello letter is one of the first communications the borrower receives after an acquisition. It sets the tone for the relationship — particularly on non-performing loans, where the borrower may have had no contact with the prior servicer for months or years. The hello letter is generated by the servicer as part of the loan boarding process and is a compliance requirement, not an optional courtesy. Investors should confirm with their servicer that the hello letter has been sent on the correct timeline and that it contains accurate account information, as errors in this initial communication can undermine borrower trust and create obstacles to future loss mitigation negotiations.