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Roger, Attorney
Category: Legal
Satisfied Customers: 31782
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have a mortgage with a bank that has been transferred to

Customer Question

I have a mortgage with a bank that has been transferred to several banks since the life of the loan. The current bank has changed the loan number with out my consent is that legal?
Submitted: 2 years ago.
Category: Legal
Expert:  Roger replied 2 years ago.

Hi - my name is ***** ***** I'll be glad to assist.

There is nothing illegal about the lender changing the loan number. In fact, this is quite common in situations where loans are purchased from one bank to another. Often, the banks change the loan numbers to correspond with their own loan numbers that match the sequence they use.

As long as your loan terms haven't changed - - which should not happen - - then what loan number the account has really shouldn't have any affect on you.