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Vanderbilt Mortgage and Finance, Inc.
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Frequently Asked Questions

Select Your Question:

Advance

What is an Advance?

Draft Draft

How do I enroll in or change my monthly draft information?
How can I be removed from my monthly draft?
How do I change my bank account information on my biweekly draft*? *If applicable
How can I be removed from my biweekly draft?

Escrow

What is escrow?

Fees and Service Charges

What are the maximum fees charged for available services?

Foreclosure Prevention

What can I do if I am worried about foreclosure?

Go Paperless Go Paperless

Why should I consider going paperless?
If I go paperless will I still be able to view my documents online?
How do I resume getting paper statements by mail if I go paperless?
What is required to go paperless?

Information Sharing Opt Out

What does "Opting Out" of Information Sharing Mean?
How do I Opt Out of Information Sharing?

Insurance

What type of coverage is required?
Who monitors Vanderbilt loans for homeowners insurance maintenance?
How do I update my policy information?
How can I tell if Vanderbilt has received my renewal?
What do I do if I decide to change insurance companies or carriers?
If I change insurance carriers, can payment for the new premium be taken from my escrow account?
How can I tell if my policy has been paid?
What do I do if my current policy is being canceled or non-renewed?
What is Lender Placed Coverage?
Why do I have to carry flood insurance on my property?
What if I believe I am no longer in a Special Flood Hazard Area?
Who is to be listed as the Loss Payee on the policy?
Can I get a quote or receive help finding the right homeowners insurance?

Military Allotment

What information do I need to be set up on a Military Allotment?

Monthly Statement

Why am I getting a monthly statement when I am set up for monthly/biweekly draft?
What if I do not want a monthly statement mailed to me?
What if I want to pay additional funds toward my loan but I'm on monthly or biweekly draft and/or have elected to go paperless?

Mortgage Claims

How do I file a claim on damage to my home?
I have received a claim check. What do I do now?
How do I contact Vanderbilt about my mortgage claim?
Can I send my pictures via the web?
What is the proper way to endorse (sign) my insurance check?

Mortgage Interest Statement (1098 Tax Form)

When will you mail my 1098 Tax Form?
Can I get my 1098 Tax Form sooner?
What if I do not receive my 1098 Tax Form or need a replacement?

Moving Your Home

Can I move my home?
What should I know before moving my home to a different county or out of state?

Name Change

I recently got married/divorced and would like to change the name on my loan.

Paid Out Loans

When will I get my documents?
Vanderbilt is still showing as my lienholder. How do I request a lien release?
Where will the title be mailed, if I refinanced my home?
When will my land be released once my loan is paid in full?
When will I receive a refund for any money overpaid when paying off my loan?

Payment Options

Where do I mail my payment?
What Payment Options are available to me?

Payoff

How do I obtain a payoff quote on my loan?
Is there a penalty if I pay off my loan early?
What is the difference between the current principal balance and the payoff quote?

Private Mortgage Insurance

What is Private Mortgage Insurance (PMI)?

Property Taxes

Is an Escrow Account required for my taxes?
Why did Vanderbilt pay my taxes without my authorization when I am not escrowed for taxes?
What should I do with the tax bill I have received?
How do I repay the Advancement for taxes paid on my behalf by Vanderbilt?
How is my initial tax escrow payment calculated?
How can I lower my taxes?
Why did my tax escrow payment increase?
I sold this property. What should I do with the tax bill?
I am the new owner of this property. Why am I being billed for the entire year?

Sell My Home

How do I sell my home?
Is my loan assumable?

USER ID and/or PASSWORD

I Forgot my USER ID and/or PASSWORD.
Trouble Logging In?

What if my payment gets lost?

By Check
USPS® Money Order
Western Union®
MoneyGram®


Frequently Asked Questions answered by Category

Advance


What is an Advance?

An "advance" is a separate amount that is collected along with your scheduled mortgage payment for any expenditure that Vanderbilt paid on your behalf for items not described in your Escrow Agreement such as delinquent property taxes, Lender Placed Insurance Policies, etc.

Draft Draft


How do I enroll in or change my monthly draft information?

Please use one of the following options to enroll or change your bank account information on a recurring ACH monthly draft.

Option 1. Login or create a secure online account to access your Vanderbilt loan information. You can enroll, change or remove your bank information for a recurring ACH draft payment from the "Loan Summary" page.

Option 2. Fax a copy of your blank "voided" check and the Monthly Draft Authorization form authorizing Vanderbilt Mortgage to draft from your bank account. Fax this information to Attn: Customer Service to 865-380-3418. Please allow 5-7 business days for this draft information to take effect.

Option 3. Mail a blank "voided" check and a Monthly Draft Authorization form to:
Attn: Customer Service
Vanderbilt Mortgage and Finance, Inc.
PO Box 9800
Maryville, TN 37802
Please allow 5-7 business days prior to your payment draft date for this information to take effect.

Drafting from a Savings Account. If you wish Vanderbilt Mortgage to set-up a recurring ACH draft from your savings account, please verify the routing number with your credit union or bank.

Third Party Drafting. If the bank account belongs to anyone other than the parties signed on the contract, we must have written authorization from our customer and the bank account holder.

Important notes regarding your recurring ACH Draft Payment:
  • If your payment draft date falls on a Saturday, Sunday or a Holiday then your account will draft the previous business day. For instance, if your draft date falls on a Saturday, Sunday or there is a Holiday on a Monday, your account will draft the preceding Friday.

  • You will receive a confirmation letter in the mail from us within 14 days when your recurring ACH draft request has been processed.

How can I be removed from my monthly draft?

To be removed from your monthly draft, you must login or create a secure online account to access your Vanderbilt loan information or call our Customer Service Department at1-800-970-7250.

How do I change my bank account information on my biweekly draft*?

To change your bank account information for your biweekly draft, you must do one of the following options:

Option 1. Login or create a secure online account to access your Vanderbilt loan information.You can change your bank information for a recurring ACH draft payment from the "Loan Summary" page.

Option 2. Fax a copy of your blank "voided" check and the Biweekly Draft Change Authorization form authorizing Vanderbilt Mortgage to draft from your bank account every 14 days. Fax this information to Attn: Customer Service to 865-380-3418. Please allow 5-7 business days prior to your payment draft date for this information to take effect.

Option 3. Mail a blank "voided" check and a Biweekly Draft Change Authorization form to:
Attn: Customer Service
Vanderbilt Mortgage and Finance, Inc.
PO Box 9800
Maryville, TN 37802
Please allow 5-7 business days prior to your payment draft date for this information to take effect.

Biweekly Drafting from a Savings Account. If you wish Vanderbilt Mortgage to set-up a recurring ACH draft from your savings account, please verify the routing number with your credit union or bank.
Third Party Biweekly Drafting. If the bank account belongs to anyone other than the parties signed on the contract, we must have written authorization from our customer and the bank account holder.

*If applicable

Important notes regarding your biweekly recurring ACH Draft Payment:
  • If your payment draft date falls on a Saturday, Sunday or a Holiday then your account will draft the previous business day. For instance, if your draft date falls on a Saturday, Sunday or there is a Holiday on a Monday, your account will draft the preceding Friday.

  • You will receive a confirmation letter in the mail from us within 14 days when your recurring biweekly ACH draft request has been processed.

How can I be removed from my biweekly draft?

To be removed from your biweekly draft, you must call our Customer Service Department at1-800-970-7250.

Fees and Service Charges


What are the maximum fees charged for available services?

Where legally allowed, the maximum fees charged by Vanderbilt for the indicated services are as follows:
Amortization Schedule
Assisted Phone Pay
Complete Payment History
Copy of Contract
Copy of Title
Duplicate Year-End Statement
Mortgage Deed of Trust
NSF (Returned Check) Fee
One Year Payment History
Other Document Copies
Payoff Processing Fee
Payoff Quote Inquiry
Replacement Mortgage Interest Statement (1098)
Verification of Mortgage
$25.00
$10.00
$25.00
$15.00
$15.00
$15.00
$15.00
$30.00
$ 0.00
$15.00
$57.00
$ 0.00
$15.00
$20.00
 
Please remember to write your loan number on your check or money order to ensure proper credit. Direct any questions regarding fees to our Customer Service Department or visit our Contact Us page.


Go Paperless Go Paperless


Why should I consider going paperless?

Choosing to go paperless can gain you time, security and convenience! The benefits of going paperless are increased security and privacy, improved record keeping, saving time and money, and it saves trees so it helps the environment.

If I go paperless will I still be able to view my documents online?

Yes! If you elect to "Go Paperless" nothing will change regarding viewing the following documents online. However, you will no longer receive printed copies by mail.
Go Paperless Monthly Statements
Go Paperless Yearly Escrow Disclosures*
Go Paperless Privacy Notices*
Go Paperless Variable Rate Disclosures*
Go Paperless Interim Escrow Analysis*
Go Paperless 1098 - Mortgage Interest Statement
Go Paperless 1099 - Miscellaneous Income Statement*
Go Paperless And any other documents or disclosures we may send.
* If applicable and available

How do I resume getting paper statements by mail if I go paperless?

If you decide to go paperless then change your mind, from your Loan Summary or My Information page select "I want to receive paper statements" to resume getting copies by mail.

What is required to go paperless?

The main requirement for customers to go paperless is to first create a secure online account then there are 3 steps to complete the process and "Go Paperless".
Step 1. Verify you have Adobe® Reader® to view your electronic statements in PDF format.
Step 2. Verify you can receive email notifications to inform you that your statements are ready to view online.
Step 3. Agree to the "Online Account Terms and Conditions" and to the "Consent to Receive Electronic Communications".

Information Sharing Opt Out


What does "Opting Out" of Information Sharing Mean?

If you opt out, you limit the extent to which Vanderbilt Mortgage can provide your personal financial information to Companies related by common ownership or control. They can be financial and nonfinancial companies.affiliates and Companies not related by common ownership or control. They can be financial and nonfinancial companies.nonaffiliates.

If you do not opt out within a reasonable period of time (30 days after Vanderbilt Mortgage provides you with its notice), then Vanderbilt Mortgage is free to share your personal financial information for certain purposes with Companies related by common ownership or control. They can be financial and nonfinancial companies.affiliates and Companies not related by common ownership or control. They can be financial and nonfinancial companies.nonaffiliates.

If you did not opt out the first time you received a privacy notice from Vanderbilt Mortgage, it's not too late. You can always change your mind and opt out of certain information sharing. Remember, however, that any personal financial information that was shared before you opted out cannot be retrieved.

How do I Opt Out of Information Sharing?

There are two ways to opt out of certain information sharing.
(1) You may opt out by visiting www.optoutoday.com or
(2) You may call toll-free 1-877-826-5294 and the menu will guide you through your choices.

Insurance


What type of coverage is required?

  1. Full coverage homeowner's insurance with Vanderbilt Mortgage and Finance, Inc. as loss payee is required at all times. Some states require a separate policy to protect against wind/hail damage.


  2. If you want to fully protect your home, coverage should include the current value of your home and improvements. This amount may differ from your existing loan balance. Vanderbilt may accept a policy with coverage less than the loan balance if your loan includes financed non-insurable items such as land or land improvements. However, in the event of total destruction of your property, your insurance settlement may not pay off your obligation to Vanderbilt. We suggest you consult an insurance agent of your choice regarding type and amount of coverage.

Who monitors Vanderbilt loans for homeowners insurance maintenance?

HomeFirst Agency, Inc.
Attention: Insurance Tracking
PO Box 9770
Maryville, TN 37802
Phone: (800) 804-9389
Fax: (865) 380-3785

How do I update my policy information?

There are a few ways to update your insurance policy information. First, if you do not have access to log in to our secure web site, you can update your insurance information by mail or facsimile. See Who monitors Vanderbilt loans for homeowners insurance maintenance?

Please have the following information available:

Name and Address of Insurance Company
Policy number
Effective and expiration dates
Premium amount
Deductible
Coverage Amounts

Second, if you have access to log in to our secure web site, you can submit your updated insurance information and we will do the leg work for you! Log in, select “Insurance” from the left hand menu. Click the “Update” button. Fill in the requested information. Click “Submit” and we’ll take care of the rest. Once we verify your policy information and update your account, you will see your new policy information next time you log in to our secure web site.

How can I tell if Vanderbilt has received my renewal?

There are two ways for you to see if Vanderbilt has received your insurance renewal. First, look at your policy effective date and expiration date on your insurance renewal notification. If they are for a new term and Vanderbilt is listed as the Loss Payee, we should have received a copy of the renewal policy directly from your insurance company.

If you have access to log in to our secure web site, another way is to log in to our secure web site. Click on “Insurance” from the left hand menu and look at your policy “Expiration Date” to see if it has been updated. If not, see How do I update my policy information?

If you have questions, please call HomeFirst Agency at (800) 804-9389 and speak with a customer service representative.

What do I do if I decide to change insurance companies or carriers?

  1. Forward a copy of your new policy to HomeFirst Agency. Please make sure the new policy meets the insurance requirements listed previously. What type of coverage is required? You may also log in to your secure online account or create a secure online account to submit a request to update your insurance information or review other options on How do I update my policy information?


  2. Important! You must contact HomeFirst at 1-800-804-9389 to give authorization to accept the new insurance information.


  3. Contact your previous insurance carrier to cancel coverage and obtain any refund of premiums due.

If I change insurance carriers, can payment for the new premium be taken from my escrow account?

If you have enough money in your escrow account, Vanderbilt can send payment to your new insurance carrier upon request. Please call our insurance tracking company, HomeFirst Agency, at (800) 804-9389 to make your request.

How can I tell if my policy has been paid?

Please contact HomeFirst Agency at (800) 804-9389 and speak with a customer service representative.

What do I do if my current policy is being canceled or non-renewed?

Please contact HomeFirst Agency, Inc. at (800) 804-9389 to discuss your intentions of keeping your home protected. Failure to maintain insurance on your home may result in the placement of Lender Placed Coverage (see below).

What is Lender Placed Coverage?

Lender Placed Coverage is a policy obtained by the lender when a cancellation notice has been received on your present policy. Lender Placed Coverage protects the home only, with no personal contents or liability coverage and is generally more expensive than your normal homeowner's insurance policy.

Why do I have to carry flood insurance on my property?

Vanderbilt follows federal guidelines to determine if flood insurance is required. It was determined that your home is located in a Special Flood Hazard Area, an area designated by the federal government to be at greater risk of flooding.

What if I believe I am no longer in a Special Flood Hazard Area?

Provide Vanderbilt Mortgage and Finance, Inc. with:
  1. A Letter of Map Amendment (LOMA)
  2. A Letter of Map Revision (LOMR)
Both of these documents are issued by the Federal Emergency Management Agency. You may contact them at (800) 621-3362.

Please forward these documents to:
HomeFirst Agency, Inc.
ATTN: Insurance Tracking
PO Box 9770
Maryville, TN 37802
OR
Fax: (865) 380-3785

Upon receipt of these documents, HomeFirst Agency will review your request. Please allow 2 weeks for the review process. HomeFirst Agency will notify you if the flood insurance requirement can be waived.

Please note Vanderbilt will not accept any of the following items as proof that the property is no longer in a mandatory flood zone: an appraisal, a survey, an elevation certificate, topography studies, building permits or letters from community officials.

Who is to be listed as the Loss Payee on the policy?

Vanderbilt Mortgage and Finance, Inc.
ISAOA/ATIMA
PO Box 9770
Maryville, TN 37802

Can I get a quote or receive help finding the right homeowners insurance?

Having the right insurance protection gives you the peace of mind you want for your most valuable possessions. If you need help with insurance or would like a no cost, no-obligation insurance review and quote, call HomeFirst Agency at (800) 804-9389.

Military Allotment


What information do I need to be set up on a Military Allotment?

A Military Allotment is a service offered by the military to pay bills for its military members. This is not a draft. Military Allotments are set up by the military service member through their Payroll Office. To be set up on a Blanket Disbursement, please call our customer service department and obtain the necessary information needed to use the Military Allotment.

Monthly Statement


Why am I getting a monthly statement when I am set up for monthly/biweekly draft?

If you are on a monthly or biweekly draft, the monthly statement is for information purposes only. The monthly statement also contains a coupon in the event you wish to send in additional funds towards your loan. If you no longer wish to receive paper statements by mail you may elect to "Go Paperless".

What if I do not want a monthly statement mailed to me?

If you no longer wish to receive monthly statements (or any other paper statement we now send) by mail and you prefer to only view them online from our secure web site, you may elect to "Go Paperless".

What if I want to pay additional funds toward my loan but I'm on monthly or biweekly draft and/or have elected to go paperless?

If you are on a monthly or biweekly draft and/or have elected to "Go Paperless" you may pay additional funds towards your loan at any time. For more information please visit "Payment Options".

Mortgage Claims


How do I file a claim on damage to my home?

To file a claim on the damages, you will need to contact your current insurance provider.

I have received a claim check. What do I do now?

If you have received a claim check from your insurance company due to damages to the home, our process is to monitor repairs and we would like to see them completed within 6 months. We know this is a trying time for you and our goal is to have the repairs completed as quickly and thoroughly as possible.

The following information will be needed in order to issue funds:

  • Your signed insurance claim check (All parties required to sign).
  • A copy of the Estimate of Loss (Adjuster's Summary) from the insurance company showing the breakdown of the damages that occurred to the home.
  • If you will be using a contractor(s): a copy of the contractor's estimate with the name(s) as they would appear on a disbursement check, phone number with area code, and a breakdown of repairs with the amounts clearly printed. If the contractor requires an initial payment please mark the amount clearly on the estimate.
  • If you will be doing your own repairs: please provide an estimate from the store where you will be purchasing the materials.

Vanderbilt will issue a partial check payable to you and your contractor or to the store where you will be purchasing your materials once the above mentioned items are received. As you spend the funds from each disbursement send the receipts or paid invoices in order to release additional funds to continue repairs. Once all the repairs are completed, send colored pictures of the repairs.

The required information and color pictures may be emailed to VMFClaims@VMF.com or mailed to the address below. You may fax estimates and receipts to 865-380-3427.

ATTN: Mortgage Claims
Vanderbilt Mortgage and Finance, Inc.
PO Box 9800
Maryville, TN 37802

IMPORTANT NOTE: Always include your VMF loan number on all correspondence and color pictures.

How do I contact Vanderbilt about my mortgage claim?

Can I send my pictures of completed repairs via the web?

You may e-mail pictures of the completed repairs to the home as .jpg attachments only to vmfclaims@vmf.com.

What is the proper way to endorse (sign) my insurance check?

Any name listed as a "payee" on a check must sign the back of the check exactly as the name appears on the front of the check. This is known as "endorsing" the claim check. Additional instructions for:

  • Power of Attorney (POA). If you have a Power of Attorney for a signor listed on the claim check, you will need to sign their name first on the back of the check, then list your name with POA listed next to your name. Mail a copy of the Power of Attorney paperwork and the endorsed check to the address below. Please be advised that the Power of Attorney is only in effect while the person is alive.

    ATTN: Mortgage Claims
    Vanderbilt Mortgage and Finance, Inc.
    PO Box 9800
    Maryville, TN 37802

    IMPORTANT NOTE: Always include your VMF loan number on all correspondence, checks and color pictures.

  • Executor of Estate (EOE). If you are Executor of Estate for a signor listed on the claim check, you will need to sign their name first on the back of the check, then sign your name with EOE listed next to your name. Mail a copy of the Executor of Estate paperwork, a copy of the death certificate and the endorsed check to the address below. Please be advised Executor of Estate is only in effect for the deceased.

    ATTN: Mortgage Claims
    Vanderbilt Mortgage and Finance, Inc.
    PO Box 9800
    Maryville, TN 37802

    IMPORTANT NOTE: Always include your VMF loan number on all correspondence, checks and color pictures.

  • Name Changes. If a name appears different on the claim check due to marriage or divorce, please contact Vanderbilt. Mail a copy of the marriage certificate or divorce decree and the endorsed check to the address below. When Vanderbilt issues funds for your claim, the name will be hyphenated. We will list the name as our records show and your new last name as well.

    ATTN: Mortgage Claims
    Vanderbilt Mortgage and Finance, Inc.
    PO Box 9800
    Maryville, TN 37802

    IMPORTANT NOTE: Always include your VMF loan number on all correspondence, checks and color pictures.

  • Divorce Decree. In the event of a divorce with someone who is signed on Vanderbilt’s contract, we will need proper paperwork showing the first party was awarded the home and the second party has given up any and all rights to the home. Please be advised if you receive the claim check from your Insurance Company with a divorced parties name listed on the check, you will need to contact your Insurance Company.

Mortgage Interest Statement (1098 Tax Form)


When will you mail my 1098 Tax Form?

All 1098 Tax Forms for the previous calendar year are mailed on or before January 31st.

Can I get my 1098 Tax Form sooner?

Yes. If you want to file your Federal Income Tax without waiting for your Mortgage Interest Statement (1098 Tax Form) to arrive in the mail, you can log in to our secure site and print your Mortgage Interest Statement (1098 Tax Form) free of charge as soon as it is available.

What if I do not receive my 1098 Tax Form or need a replacement?

If you have not received your 1098 Tax Form by February 1st or need a replacement, please do one of the following:
  • Log in to our secure site and print your 1098 Tax Form free of charge.
  • For a fee of $15 you can order a replacement 1098 Tax Form.
  • Call 1-800-970-7250 to request a duplicate from one of our representatives (fee may apply).
  • Call our toll free number and using our automated system select your language preference then choose option 36 to obtain the information.

Moving Your Home


Can I move my home?

Per your contract, you can move your home with Vanderbilt’s approval. For a list of requirements please download the printable request to move home forms: Non-FHA Loans or FHA Loans

What should I know before moving my home to a different county or out of state?

For a list of requirements please download the printable request to move home forms: Non-FHA Loans or FHA Loans.

Name Change


I recently got married/divorced and would like to change the name on my loan.

If you are a signer on the loan and had your name changed due to marriage or divorce, you will need to complete a name change form then send in a copy of your marriage license or divorce decree and updated social security card (with your new name) and drivers license (with your new name) as proof of the change. Please write your loan number on each document then fax or mail them to:

Fax: 1-865-380-3418
Attn: Customer Service

Mail: Attn: Customer Service
Vanderbilt Mortgage and Finance, Inc.
500 Alcoa Trail
Maryville, TN 37804

Paid Out Loans


When will I get my documents?

All documents are mailed to you via U.S. mail 15 days from the date your loan shows that it is paid in full.

Vanderbilt is still showing as my lienholder. How do I request a lien release?

To obtain a lien release*, mail a written request along with a check or money order to cover the $25 processing fee to the address below. Please be sure to include the loan number and customer's name on both and make your check payable to Vanderbilt Mortgage and Finance, Inc.

Attn: Paid Out Department
Vanderbilt Mortgage and Finance, Inc.
500 Alcoa Trail
Maryville, TN 37804

*Notes:
If Third Party Request: If the lien release request is from a third party (Attorney, Bank, Title Company, etc.) you will also need to provide us with a copy of our customer's authorization or proof of how you obtained this home.
If Loan Paid Out More Than 7 Years Ago: For loans that have been paid off for seven years or more, you must also provide us with a copy of the Title or a print out from the DMV showing our lien and the home information.

If you have further questions please call our Customer Service Department at 1-800-970-7250.

Where will the title be mailed, if I refinanced my home?

With written direction from your new lender, we will mail the title to them.

When will my land be released once my loan is paid in full?

Vanderbilt follows county guidelines when releasing your land. You should receive confirmation that your land has been released within 60 days of paying off your loan.

When will I receive a refund for any money overpaid when paying off my loan?

Any refunds due, for an overpaid loan, will be mailed on the 21st day after the loan is paid in full.

Payoff


How do I obtain a payoff quote on my loan?

You may obtain a payoff quote immediately by logging in to your online account or by creating a secure online account on our website. You may also call our Customer Service Department at 1-800-970-7250, fax your request to 1-865-380-3418, or submit a request by email or mail.

Is there a penalty if I pay off my loan early?

Generally, there is not. Check your loan documents to see if no prepayment penalty is referenced. If it is not, then no early pay off penalty will be due. There may be a fee included in the payoff quote. Where legally allowed, Vanderbilt charges up to $57 paid to state recording offices to remove Vanderbilt's lien from the account. This is the only fee involved in paying off your loan.

What is the difference between the current principal balance and the payoff quote?

The current principal balance is the amount still owed on the original amount financed without any interest or finance charges. A payoff quote is the total amount owed to pay off the loan including any and all interest and/or finance charges. Payoff quotes are quoted to cover a 30-day period of calculated interest and/or finance charges. After that 30-day period a new quote is necessary for the correct amount required to pay off the loan.

Private Mortgage Insurance


What is Private Mortgage Insurance?

Private Mortgage Insurance (PMI) is insurance to protect the lender against loss if the borrower defaults on the loan and the lender is unable to recover the loan balance and expenses. Borrowers with less than a 20 percent down payment are generally required to pay private mortgage insurance.

Property Taxes


Is an Escrow Account required for my taxes?

The state of Texas requires lenders to escrow taxes for loans with contract dates after June 18, 2003. An escrow agreement is signed at loan closing and is binding for the life of the loan. You may have entered into a tax escrow agreement in another state. If you have, then you will have a tax escrow payment.

Why did Vanderbilt pay my taxes without my authorization when I am not escrowed for taxes?

In most cases, it is the customer’s responsibility to pay his/her taxes. However, Vanderbilt may do so on your behalf should taxes not be paid in accordance with policy set forth in your contract. You may contact your local taxing authority to request a receipt for taxes paid.

What should I do with the tax bill I have received?

If an escrow account has not been established for your loan, payment is due to the taxing authority indicated on the bill.  However, if your loan is escrowed for taxes, through Vanderbilt Mortgage and Finance, Inc. (VMF), you may receive an informational copy of the tax bill. Because some taxing authorities do not forward tax bills to mortgage companies, write your loan number on the bill and send a copy to our tax department via fax at 1-865-380-3726, or by mail to the following address:
ATTN: TAX DEPARTMENT
PO Box 9800
MARYVILLE, TN 37802

How do I repay the Advancement for taxes paid on my behalf by Vanderbilt?

You may mail a check to the address mentioned above. Please be sure that your loan number and “Tax Advance Repayment” are clearly noted on your check. If repayment is not received by check, a Monthly/Biweekly advance amount will be set up and collected along with your scheduled mortgage payment (and escrow payment, if applicable). An Advance is a separate amount collected for any expenditure paid on your behalf on items for which no Escrow Agreement has been established.

How is my initial tax escrow payment calculated?

Your initial tax escrow payment is determined at the time you apply for financing of your home and land if land is included with your mortgage. The sales price of the home and value of real estate included with your mortgage is multiplied by the most recent rate charged by your taxing authority and becomes your annual property tax estimate. Your initial escrow payment is 1/12th of your annual property tax estimate. Your annual tax escrow projections will be determined by taxes owed and paid the previous year.

How can I lower my taxes?

Contact your local taxing authority to find out if you are eligible for exemptions.

Why did my tax escrow payment increase?

An annual review of your escrow account is performed by Vanderbilt to determine if your current tax escrow payment is sufficient to pay your yearly taxes. Adjustment(s) to your escrow payment as well as any refund amount due to you will be determined at this time. Because your taxes due are determined based on changes in property value and/or reassessment of your property, your monthly tax escrow payment may be adjusted accordingly. Vanderbilt will pay the amount indicated due on the tax bill. Please contact your local taxing authority with questions and/or concerns regarding adjustments to your taxes owed.

I sold this property.  What should I do with the tax bill?

Inform your local taxing authority of the change as soon as possible.

I am the new owner of this property.  Why am I being billed for the entire year?

Property taxes are assessed against the property, not the person. Taxes are not pro-rated between new and previous owners. However, during a typical home-loan closing, tax amounts are pro-rated between the buyer and seller. You may confirm this by reviewing your contract.

If you have questions and/or concerns regarding your property taxes, or if we may be of additional service, please do not hesitate to contact our office at the following telephone number and time(s):

1-800-970-7250
8:30 a.m. to 8:00 p.m. (ET), Monday-Thursday
8:30 a.m. to 5:30 p.m. (ET), Friday

Sell My Home


How do I sell my home?

If you have someone interested in purchasing your home, you may download the credit application and other required forms to give to the interested party. Please select your state below and click on the Loan Application Package to print it.

Application Packages
Please choose your state below. If your state does not appear in the drop down list, Vanderbilt Mortgage and Finance, Inc. is not originating loans in that state.


Is my loan assumable?

This is at the lenders discretion, and may be based on the creditworthiness of the proposed buyer. Vanderbilt may offer an alternative financing option for the sell/purchase of your home. If you have any questions about the application process, please contact our Credit Services Department at 1-866-701-0467.

I forgot my USER ID and/or PASSWORD.


When you registered to create your secure online account to view your VMF loan information, you created a unique USER ID, PASSWORD, SECURITY QUESTIONS and ANSWERS.

  • Forgot User ID? Inside the Login box, click "User ID: Forgot?". You will be prompted to enter you VMF loan number, your first and last name, and email address. Next, click "Submit". You will be given the option to answer your Security Question. Once the question has been answered correctly, your User ID will be emailed to the email address on record.

  • Forgot Password? Inside the Login box, click "Password: Forgot?". You will be prompted to enter your VMF loan number and your User ID. Next, click "Submit". A verification email will be sent to the email address associated with your account. You will have 3 hours to click on the link contained in the email. You will then be given the option to answer your Security Question. If this is an Owner account, you will be required to enter the social security number of the primary borrower. Once the security question has been answered and the social security number entered correctly, you will be given the opportunity to reset your password.
If you no longer have the same email, have forgotten which email you used, or need further assistance logging into your secure online account, please call the Customer Service Department at 1-800-970-7250.

Trouble Logging In?

If you are experiencing problems logging in, there could be two reasons.
  • If you previously used Vanderbilt's e-Payment System to make your payments, your old login is no longer valid. You must register to use our new system and then re-enter your bank account information.

  • Forgot your User ID and Password.
If you continue having difficulty logging in, please contact our Customer Service Department.

What if my payment gets lost?


If you believe your payment was lost, below are the procedures for the most common payment methods. If your method of payment is not listed, check the front or back of your payment receipt for a phone number to call.

By Check:

Contact a Vanderbilt representative at 1-800-970-7250 to discuss the situation and obtain a fax number to submit a copy of your cancelled check.

USPS® Money Order:

Go to the nearest Post Office, call 1-866-974-2733, read "Replacement of Lost or Stolen Money Orders" on the USPS® web site.

Western Union®:

Contact Western Union® at 1-800-999-9660 to find out if it has been cashed.

MoneyGram®:

Call MoneyGram® at 1-800-542-3590 to find out if it has been cashed.
  • If cashed: Provide VMF with a front and back copy of the money order.
  • If not cashed: Complete a "Money Order Claim Card" to Money Gram®.