Your Monthly Mortgage Payment
We ask that you remit your monthly payments using the address labels provided with your coupon book. We can better serve you through proper processing of your payments if you will observe the following practices:
- Please write your loan number clearly on the front of your check or money order.
- If you are paying an amount in addition to your required monthly payment, please indicate on the coupon how you want the additional funds applied (prepayment of future installment, principal payment, escrow payment, etc.)
- Payments may be delivered in person between 8:00 a.m. and 4:30 p.m. at our One Liberty Square office in New Britain. A drop box is located in the receptionist area on the third floor. DO NOT LEAVE YOUR PAYMENT IN THE BOX OUTSIDE THE BUILDING. This is not a secured drop box and is checked only once in the morning.
- We encourage our customers to take advantage of our electronic funds transfer, a payment option that ensures a timely receipt of your monthly payment. We also offer phone pay until 4:00 p.m. Please call us for more details.
Late Charges
Late charges are assessed if we have not received your payment within 15 days of the date due. We cannot accept responsibility for any delays caused by the U.S. Postal Service. We request you mail your payment on or before the due date to avoid the possibility of incurring a late payment charge. The due date is the 1st of each month.
If a check is not honored by your bank and returned to us, we will charge an administrative fee of $20.00 per occurrence.
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Your Mortgage Payment Options
There are five ways for you to make your mortgage payment. They are:
- Check or money order through the mail or at our New Britain office. No cash payments allowed.
Mail payments to:
The McCue Mortgage Company
Attn: Servicing Department
P.O. Box 1000
New Britain, CT 06050-1000
- Online through your own bank’s “online pay” system. Contact your personal bank for more information.
- Electronic Funds Transfer (EFT). Click here for more information.
- Pay by Phone. Call 1-800-382-0017 option 3.
- Western Union (at your local grocery store, CVS, etc.) Code # 1000 or McCue
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Year End Information - IRS Reporting
We are required by the Tax Reform Act of 1984 to report to the Internal Revenue Service the amount of interest we received on your mortgage during the year. The amount reported, as indicated on your Annual Statement, identifies the primary borrower as payer by the Tax Identification Number shown at the top of the statement.
If the name and Tax Identification Number on your account with us do not match the name on your Social Security Card, please advise us immediately.
In some cases, the amount of interest reported to the IRS will be different from the amount shown on the Annual Statement as “Interest Paid 2008”. This will be true if any of the following situations pertain to you:
- If you paid less than $600 in interest on your mortgage loan, we are not required to report to the IRS.
- If you assumed your mortgage in 2008, the interest reported to the IRS includes only the amount received for the period during which we were aware you were obligated on the loan.
- If your monthly payments were supplemented by buy down funds, we have reported to the IRS an amount of interest paid after deduction of those supplemental amounts.
- If on December 31, 2008, your mortgage was prepaid for installments due February 1, 2009, or after, the interest portion of such prepayments is not reportable to the IRS for the year 2008. This prepaid interest will be reported in subsequent years, as applicable.
- If you paid any late charges, they are included in the interest reported to the IRS.
- If your loan closed on or after January 1, 2007 and you pay monthly mortgage insurance premiums, you may be able to deduct these premiums on your Federal Tax Return. If your premiums are deductible, the amount you paid will appear in Box #4 on the substitute 1098 attached to your yearend statement. If no figure appears in Box #4, you are not eligible for the deduction.
If you don't receive a copy of our year end statement by February 15th, please contact us immediately to request a duplicate be mailed to you.
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Government Assisted Loans
If a portion of your monthly mortgage payment is subsidized by HUD under a government assisted loan program, you are allowed to deduct for Federal Income Tax purposes only that part, if any, of the mortgage interest payments made during the year that exceed the amount of assistance payments made by HUD.
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Condominium Fees or Homeowner Association Dues
Be sure to pay your monthly condominium fees. We do not pay condominum fees from your mortgage payment.
The condominium association can foreclose on your property if you do not pay the monthly fee. Contact your condominum homeowners association if you are having trouble paying your fees. Make arrangements with them to make up the payments.
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Credit Reporting Disputes
If you think that McCue Mortgage has made an error in reporting your mortgage payment history to the credit reporting agencies, please send your concerns in writing to:
Margaret A. Osborn, VP
The McCue Mortgage Company
P.O. Box 1000
New Britain, CT 06050-1000
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Changing Your Name or Contact Information
Please be sure to provide us with the most up-to-date contact information including: home phone number, mobile phone number and email address.
If you have:
- Changed your name
- Married
- Divorced
We need an updated W9 and a copy of your name change documentation. Please complete the W9 form and mail your documentation to us:
The McCue Mortgage Company
Attn: Servicing Department
P.O. Box 1000
New Britain, CT 06050-1000
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Contacting Our Servicing Department
All of our mortgage payment processing is handled by our Servicing Department. You can reach us:
- By phone: 1-800-382-0017 option 3 (toll free)
- By fax: 860-826-6508
- By email: payment@mccuemortgage.com
- In person: 1 Liberty Square, 3rd Floor, New Britain, CT 06051
The January – April period is a particularly busy time for us since this is the one time each year when we correspond with all of our customers simultaneously. Many customers will have questions about Annual Statements and will contact us for answers. We solicit your patience and understanding should you experience difficulty in accessing our toll-free lines and assure you we will do our best to answer your calls as quickly as possible.
Again thank you for allowing us to service your mortgage. Your suggestions regarding how we may serve you better are welcome.
HOURS OF OPERATION: 8:30 a.m. to 4:30 p.m.
| Department |
Toll-Free Number |
Local Number & Extension |
| Loan Servicing |
1-877-786-5363 |
(860)224-2683 press 3 (2) |
| Collection Administration |
1-877-785-5363 |
(860)224-2683 press 3 (1) |
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Having Trouble Making Your Mortgage Payment?
Call us!!!
Dial 1-800-382-0017 option 3.
- We want to help you!
- We have several ways to help you manage your mortgage payments if you are having trouble.
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Homeowners Insurance Bills
Please forward the following information to us should you receive it:
- Homeowners insurance bill
- Updated declaration page/policy page
After the 1st year of making mortgage payments, you may receive a homeowners insurance bill. If you receive a homeowners insurance bill and wonder if you should pay it or not, please call us at 1-800-382-0017 option 3.
Call us with any questions on your homeowners insurance. We are happy to help.
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Changing Your Homeowners Insurance Company
Please advise us of any changes in your homeowners insurance company immediately.
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Property and Flood Insurance
We recommend you review your present coverage with your insurance agent to ensure that you are adequately protected in the event of damage to your property.
If McCue Mortgage is required to maintain an escrow account for your insurance, we are responsible for payment of annual premiums. In order to schedule payments in a timely manner, we must have renewal information in our office 30 days prior to the expiration date of the existing policy.
If you choose to replace your existing policy, please notify us 30 days prior to the expiration date of your existing policy.
Insurance claim checks require special attention. Please contact our office for procedures if you have a claim.
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Important Tax Information
Please forward us any real estate tax bills your receive. Most towns send us your tax bill directly but we need a copy to pay your taxes from your escrow account. Should you receive a bill, please fax it to us at 860-826-6508.
We do not pay any of the following taxes:
- Car tax
- Sewer tax
- Water bill
- Fire district tax
These must be paid by you. Please be sure to pay these taxes.
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Tax Escrow Analysis
If your account is escrowed for taxes and your mortgage is current, every August after the July tax bill is paid, your mortgage payment is analyzed to determine if we need to increase or decrease the escrow portion of your payment. Adjustments made based on this analysis are effective for your October 1st payment of that year.
You will receive an annual escrow analysis statement in September indicating the amount of the change and reason.
- If you pay using McCue Mortgage coupons, new coupons will be mailed to you shortly after the statement is mailed.
- If you pay using EFT, your mortgage payment will automatically adjust to the payment disclosed to you in the escrow analysis statement on the pay date you selected beginning with the October 1st payment.
- If you pay online through your bank, YOU must adjust your payment with your bank.
If the change in your mortgage payment is concerning or unafforable, call us!
If we overcollected for taxes, you will receive a check in the amil in September for the overage. Refunds will be issued after outstanding late charges and/or corporate balances are paid.
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Interest on Escrow Accounts
Commencing January 1, 2008 and ending December 31, 2008, the interest rate required to be paid on the mortgage escrow accounts for Connecticut owner occupied properties is 1.50%. For Massachusetts owner-occupied properties the interest rate is 1.00%.
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Dropping Your Mortgage Insurance
Please contact us if you are interested in dropping your mortgage insurance. The details are complicated and there are very specific criteria you need to meet to determine the possibility.
Here's some basic information to know before you contact us for all loans with mortgage insurance:
- You must be current and on-time with your mortgage payment
If you have a 1-4 family house and private mortgage insurance (i.e. non-FHA loan):
- You could not have been 30 days late on your mortgage more than 1 time in the last 12 months AND
- You could not have been 60 days late on your mortgage more than 1 time in the last 24 months.
- Your mortgage LTV must be 78% or below without a new appraisal or 80% with a new appraisal. If you are interested in having an appraisal done to drop your mortgage insurance, McCue Mortgage must order the appraisal. Contact us for more information.
If you have a 1-4 family house, FHA mortgage insurance and your loan was closed on or after January 1, 2001:
- You must have paid the monthly mortgage premium for at least 5 years AND
- The loan LTV must be 78% or below based on your original mortgage amount. Mortgage insurance cannot be canceled based on a new appraisal.
You can pay the outstanding balance on your mortgage down to 78% and drop your monthly payment as long as you have paid the monthly mortgage premuim at least 5 years.
If you have a condominum and FHA mortgage insurance and your loan was closed on or after January 1, 2006:
- You must have paid the monthly mortgage premium for at least 5 years AND
- The loan LTV must be 78% or below based on your original mortgage amount. Mortgage insurance cannot be canceled based on a new appraisal.
You can pay the outstanding balance on your mortgage down to 78% and drop your monthly payment as long as you have paid the monthly mortgage premuim at least 5 years.
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Optional Mortgage Insurance - Life & Disability
If you are not presently covered by Mortgage Life or Disability Insurance, but are interested in this coverage, please contact our Servicing Department.
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