Frequently Asked Questions
Your due date is the same as stated in your loan documents. You can also find that information on all monthly payment statements and on the online borrower portal.
You can make a payment online, by mail, or by enrolling in automatic payments.
Unfortunately, we are unable to accept payments by phone at this time.
The Reserve balance is also known as suspense. That is money that has been received that can’t complete a payment when it is received, so it is then placed in a special area called Reserve. When determining the amount to pay, you can factor in funds in Reserve and simply send the net of the total amount due minus the reserve balance, that equals the required payment due.
Error Resolution & Information Requests
If you believe there is an error on your account or you need information about your loan, you have the right under federal law to submit a written notice of error or information request.
- Send written notices to:
Covey Financial – Customer Service Department
8626 Tesoro Dr, Ste 701 San Antonio, TX 78217 - Email: staff@coveyfin.com
- We will acknowledge your request within 5 business days and send a substantive response within 30–45 days.
Please include your name, loan number, property address and a description of the error or information you are requesting.
Covey Financial offers several loss‑mitigation options to help borrowers stay in their homes. Contact our Loss Mitigation Department at (855) 276‑6300 or Staff@coveyfin.com to discuss:
- Loan Modification – a permanent change to your loan terms.
- Forbearance – a temporary reduction or suspension of payments.
- Repayment Plan – spreading missed payments over future monthly payments.
- Other Assistance – we’ll evaluate you for all options for which you may qualify.
Under federal law, foreclosure cannot start or continue while we are reviewing your complete application for assistance.
Filing a Complaint or Escalating an Issue
We aim to resolve all concerns promptly. If you are unhappy with the handling of your account:
- Step 1 – Contact Us Directly:
Reach out to our Customer Service team at (210) 610‑6250 or Staff@coveyfin.com. We’ll investigate your issue and work with you toward a solution. - Step 2 – Escalate Within Covey:
If your concern is not resolved, ask to have the matter escalated to a manager or our Compliance Department for further review.
If you still feel your issue has not been addressed to your satisfaction, you have the right to contact the appropriate regulator:
- Federal (CFPB): File a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov/complaint or call (855) 411‑2372.
Texas Borrowers:
Complaints regarding the servicing of your mortgage should be sent to the Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. A toll‑free consumer hotline is available at (877) 276‑5550. A complaint form and instructions may be downloaded from the Department’s website at www.sml.texas.gov or obtained upon request by mail at the address above, by telephone at the toll‑free hotline, or by email at smlinfo@sml.texas.gov.
- By law, your loan must be 120 days delinquent before foreclosure can begin.
- You have the right to be evaluated for loss‑mitigation options before a foreclosure sale is scheduled.
- We will send written notices explaining any intent to foreclose and available options.
- Free counseling is available from HUD‑approved housing counselors; visit www.hud.gov/housingcounseling or call (800) 569‑4287.
An escrow account is a savings account we maintain to pay your property taxes, homeowners insurance and other escrowed items on your behalf.
- Annual Analysis: We conduct a yearly review to ensure your escrow account has enough funds.
- Shortages/Surpluses: If there’s a shortage, your monthly escrow payment may increase; if there’s a surplus above $50, we’ll refund it.
- History Requests: You may request a copy of your escrow account history at any time by contacting us.
If you’re a successor (e.g. heir, spouse, or joint tenant) to a borrower who has passed away or transferred their interest, please contact us to confirm your status. We will explain what documentation is needed (e.g. death certificate, probate documents) and outline your rights to receive account information and apply for loss‑mitigation options.
- You will receive a written notice at least 15 days before a servicing transfer takes effect.
- The notice will tell you where to send future payments and whom to contact for assistance.
- During a transfer, continue making payments to Covey Financial unless otherwise instructed; we will forward any payments received to the new servicer.
