What does a borrower typically expect from the lender after 15 days of a loan transfer?

A borrower typically expects to receive notice of the loan transfer from the lender after 15 days. This requirement is established to ensure that borrowers are kept informed about the status of their mortgage and who holds the loan. The notice serves as an essential communication tool, allowing the borrower to understand who to contact for any questions related to their loan, including payment arrangements, customer service, and any potential changes to the loan servicing.

In the context of a loan transfer, it is crucial for the lender to provide timely notification, as this helps maintain transparency and fosters trust in the lending process. By receiving this notice, borrowers can confirm the legitimacy of the new lender and ensure that their payments are being correctly processed without any interruption. It is a standard procedure that helps protect the rights and interests of the borrower during transitions in loan servicing.

The other options, such as a decrease in loan payments, alteration of loan terms, or approval for refinancing, are not typical expectations in this situation and may occur under different circumstances unrelated to receiving notice of a loan transfer.