HERE’S THE THING


WCDA values our customers and is committed to excellent customer service.

 

**IMPORTANT NOTICE**

Your monthly payment amount may be changing. Annual Escrow Analysis Statements have been mailed notifying you of any change to the escrow portion of your payment. The new payments are effective April 1st.

MORTGAGE PAYMENTS


Automated Payment (ACH)-the borrower authorizes WCDA to draft their monthly payment from the checking or savings account of their choice. The borrower chooses a draft date of the 1st, 5th or 10th of the month.

CLICK HERE to download the automated payment letter and application in PDF format. There is no fee for this service.

Check by Phone -A borrower may also contact our office and ask that we draft a payment from their checking account. The borrower authorizes over the phone for a payment to be electronically drafted from their bank account. There is a $7.00 fee for this process. Contact the loan servicing department at 307-265-5102 or e-mail servicing at servicing@wyomingcda.comfor details.

Paying with Cash – If you are making a payment in cash, please come inside and make your payment in person. This will ensure you get a receipt. Do not mail cash.

Q & A


The Most Frequently Asked Questions of WCDA’s Mortgage Servicing Department

1. Will I receive a coupon book?

No. WCDA no longer sends coupon books. Instead, you will receive a monthly mortgage statement in the mail with a tear off payment slip and return envelope.

2. Will the amount of my payment ever change?

WCDA performs escrow analysis each year for all loans with a required escrow account. Each March you will receive an Annual Escrow Statement. New payment amounts are effective on April 1.

3. Does WCDA pay my property taxes and homeowner’s insurance?

Yes, each month WCDA collects 1/12 of the annual amount of your taxes and insurance, which is part of your payment. These funds are put into an account we call escrow. From this account WCDA pays your taxes and insurance.

4. May I sell or rent my home?

You may sell your home at any time. You may be subject to Recapture Tax (IRS Form 8828) if you sell your home.

You cannot rent your home without prior written approval from WCDA. Please contact a WCDA representative for more information.

5. Can I change my insurance carrier?

Yes, you may do this at any time. WCDA would like you to call our office to let us know about the change. The new premium may be paid from your escrow account so that you don’t have to come up with any money up front. Any refunds you receive from the former carrier will need to be returned to WCDA to be re-deposited in your escrow account. Your insurance deductible can be no higher than 2% for the dwelling coverage for all perils.

6. Can I make a payment over the phone?

Yes, we now have a service by which we can actually do an electronic draft (EFT) from your checking account. There is a $7.00 fee for this, but that is normally less expensive than overnight mail or the average late fee. We do not, however, accept credit or debit cards.

7. Can I defer a payment?

No, this is not an option we can allow.

8. On what day of the month is my payment considered late?

All mortgage payments are due on the first day of the month and are late on the second day of the month. However, there is a 15-day grace period. As long as your payment is received in our office by 4:00 p.m. on the 16th of the month, no late fee is charged. Payments received after 4:00 p.m. on the 16th will incur a late fee. As long as a payment is received in our office by 4:00 p.m. the last business day of the month for which it is due, it will not report as 30 days delinquent to the credit bureaus. All payments are posted the day they are received. Please do not send post-dated checks.

9. If I have more questions, who may I call?

Feel free to call the WCDA Servicing department at 307-265-5102 or 800-273-4635, whenever you have any questions. We want to help you understand your new home loan requirements. Questions may also be emailed to servicing@wyomingcda.com.

10. What does it mean to pay extra to principal?

As long as your account is current, you may send extra money to be applied to the principal balance with your current payment or any time after the current months payment is made until the next payment is due. Please note all funds $5000.00 and over must be in certified funds or via wire. This will enable you to pay off your loan sooner. By bringing down the balance owed you will pay less interest. Any extra funds received by WCDA will automatically be applied to the principal balance of the loan, provided there are no outstanding fees on your loan.

11. Is my loan assumable?

Your loan may be assumable. Please contact us for more information.

12. Can I deduct my taxes and interest on my income taxes?

Possibly, this is something you will want to discuss with your tax accountant. WCDA will provide you with an annual 1098 interest statement.

13. Can I make bi-weekly payments?

WCDA does not accept bi-weekly payments.

14. Who do I notify if I have a name change?

If your name changes for any reason, please submit a letter requesting a name change in our loan document system, along with a copy of the marriage certificate or legal court document showing the name change to:
WCDA
P.O. Box 10100
Casper, WY 82602
Please do not send originals, copies only.

TROUBLE MAKING PAYMENTS?


If you are having problems making your monthly payment, please contact the servicing department immediately. The servicing staff may be able to work with you to establish a loss mitigation option that is acceptable to you, WCDA and the mortgage insurer.

CONTACT US


Mortgage Correspondence and Payoff Mailing Address
WCDA Mortgage Servicing
P.O. Box 10100
Casper, WY 82602
(307) 265-5102 (phone)
(800) 273-4635 (toll-free phone)
(307) 265-0306 (fax)

Mortgage Payment Mailing Address
WCDA Mortgage Servicing
P.O. Box 12000
Casper, WY 82602

If you have questions about your loan, you can call 307-265-5102 or 800-273-4635.

or email us:

General Servicing Email: servicing@wyomingcda.com

Director of Mortgage Loan Servicing,
Gayle Andress: andress@wyomingcda.com
Collections Manager,
Becky Hinton: hinton@wyomingcda.com

REFINANCE