FHA 2355600004VA9102010000

CORRESPONDENT – Selling Guide Revisions – Servicing Updates/Payment Options

Effective 3/1/2022

This notice is to identify NEW changes within the On Q Financial, Inc. Selling Guide.

On Q Financial, Inc.’s Selling Guide revisions and updated Payment Options are listed below and highlighted within the attached document for easy reference.

Additional Notes:

DMI is no longer listed as a holding lender and removed as the servicer on goodbye lenders.

For any government loan where On Q Financial, Inc. has not received the insuring certificate and/or not insured within 60 days of loan closing, Seller may be subject to (a) a Repurchase Obligation or (b) payment of an uninsured loan fee, which would be refundable at the time the loan is insured. Insuring questions and certificates are submit via email to: Corr-insuring@onqfinancial.com

Removed:

All references of DMI, USDA Servicing Lender, and VA Servicing Lender

Added:

Page 35, under MERS: Correspondent must initiate a MERS transfer of beneficial rights and transfer of servicing rights to On Q Financial, Inc. (#1004185) within 24-hours of purchase.

Page 39, under VA Record Change: VALERI is to be updated to On Q Financial, Inc..

Page 4, under Contact Information: Added Insuring Email Corr-insuring@onqfinancial.com

Revised:

Page 37, under Goodbye and First Payment Letter:

On Q Financial, Inc.

Attn: Payment Processing

615 S River Drive, Suite 170, Tempe, AZ 85281

Page 38, under USDA Record Change:

USDA Loan Note Guaranty (LNG) Holding Lender:

On Q Financial, Inc. (Holding Lender)

Tax ID: 51-0517525

615 S. River Drive, Suite 170

Tempe, AZ 85281

Page 42-43, under Notice of Servicing Transfer (Goodbye Letter):

Section 1

Effective, _____________, the servicing of your mortgage loan, that is, the right to collect payments from you,is being assigned, sold or transferred from (Current Servicer) to On Q Financial, Inc.. On Q Financial, Inc. is responsible for such things as paying your property taxes, homeowners insurance, issuing billing statements and preparing year-end statements.

Section 4

On Q Financial, Inc.

Attn: Payment Processing

615 S River Drive, Suite 170

Tempe, AZ 85281

If you have any questions relating to the transfer of servicing please contact: 888-686-8707; Hours of Operation: 9am – 5pm MST.

Section 5

The date that your new servicer, On Q Financial, Inc. will start accepting payments from you is [effective date]. Mail all payments on or after that date to the provided. On Q Financial, Inc. will send you new billing statements. If you have a payment due before you receive your new billing statement, write your current [loan number] on your check and mail it to On Q Financial, Inc. at the payment address shown above.

Please note that your account information is subject to change to reflect disbursements made by, and payments that are due to, (Current Servicer).

If you currently have your monthly payment automatically drafted or deducted from your bank account, please be advised that this service will discontinue at the time of transfer. Please contact On Q Financial, Inc. to enroll in their automatic payment service. Until your automatic payments are established, please continue to mail your payments to the address shown above.

If you are currently making your mortgage payment through a third-party entity (e.g. government allotment, biweekly program, bill pay service), please take the necessary steps to advise them of the change of payee to On Q Financial, Inc..

….

You will receive two-year end statements. You will receive a 1098 statement from On Q Financial, Inc. for the period of time in which they serviced your loan and a 1098 from (current servicer) for their servicing period.

Please update your records to identify the below borrower mortgage payment options:

Pay Online:

Borrower Online Payment Link

Payment Portal Link: https://smartpay.profitstars.com/express/ON%20Q%20FINANCIAL

Pay by Mail:

On Q Financial, Inc.

Attn: Accounting/Borrower Mortgage Payment

Loan #:

615 S River Dr, Ste 170

Tempe, AZ, 85281

On Q Financial, Inc. Servicing Contact Information:

Phone: 888-686-8707

Servicing Fax # (817) 402-0708

Servicingsolutions@onqfinancial.com

If you have any questions regarding this announcement, please contact your Account Executive or Lender Support.

Thank you, LenderSupport LenderSupport@onqfinancial.com

About the Author On Q Financial, Inc.