Home Key Servicing: Most Frequently Asked Questions

How can I make my payment?
As of January 2024, we are conducting a software change and update, so please Zelle or Mail your payment. You can also drop off a payment in person if you are near the DFW Metroplex. 

Please Zelle payments to [email protected] and confirm the payee name is Home Key Servicing or Sam-Home Key Servicing; do not use a phone number for Zelle.

For payments by standard US mail, please use an opaque envelope that is not see through, please include loan number and address on memo line, and please endorse the back of the personal check with "for deposit only". 

For payments with a cashier's check or money order, please use an express mail service with tracking number and insurance for the payment amount in case of loss or theft as Home Key will not be liable for lost or stolen mail in transit.

Payment Mailing Address/Drop Off:

Home Key Servicing

Attn: Processing Dept

3585 N Belt Line Rd

Irving, TX 75062

Please drop off Monday-Friday 9am-5pm CT and the receptionist is not able to discuss loans. 

What is the NSF fee for a bounced check?
If your payment is returned, Home Key Servicing will charge a $35.00 bank NSF fee. 

How long does boarding a loan take?
It is best to send in all loan documents at the same time as it allows us to board loans in a timely manner. Our boarding process takes 2-5 business days from the time all documents have been received. Note: We will not communicate with the borrower(s) in any shape or form until the loan has been boarded.

How are borrowers contacted once the loan is boarded?
Borrowers are sent a digital welcome packet with information on Home Key Servicing and different ways to make payments along with a statement to their email address(es). The borrower will need to have an active email address and add homekey.com to their safe sender list to avoid emails going into spam or promotion folders.

As an investor, when do I get paid? How is that payment made?
We send investor disbursements on Thursdays. Payments must have been received no later than Tuesday in order to be disbursed on Thursday. Payments received via check have a hold period of 5-7 business days to ensure full clearance before the funds are released to any party. 
Payments to investors are sent via ACH deposit or through bank's digital pay options.

Why are escrows not visible to me online?
Escrow funds are held in a trust account for the benefit of the borrower and are visible to the investor when viewing online (feature is temporarily disabled while we improve software). Escrow payments, however, are not visible to the investor as part of the monthly payment.

When does the underlying lien get paid? How are they paid?
Underlying liens are paid within 3-7 business days after the payment has been received from the borrower. We require that the investor ensure the underlying lien(s) are paid 1+ months in advance to ensure no lag time between receiving & clearing the borrower's payment at Home Key Servicing and issuing the investor's funds or in case of borrower default. 
Payments to underlying lien holders are made online, when available, or via bank billpay. 

When does Home Key Servicing contact the borrower for payment?

Home Key Servicing shall contact the borrower for payment once the grace period has passed. For example, payment was due on 1^st of the month and had a 10-day grace period. Our associates will reach out to the borrower for payment on the 11^th and continue following up until payment is received or the loan is referred out to an attorney.

As an investor it is best to remain engaged and highly encouraged that you reach out to the borrower, prior to the end of grace period, once you see the payment has not been made.

What late charges or penalties does the borrower have to pay and when do they begin?

Late charges are listed in the NOTE. They are typically a percentage of the payment amount. Late charges are incurred if the payment is received after the grace period.

Please review the NOTE to see what the late charges will be for your specific borrower situation.