Make a Mortgage Loan Payment

When a loan transfers to a new servicer there is a brief window of time that is needed to set up and audit all the information that is transferring to the new servicer.

• July 1: Your loan transfers to DMI
• July 3rd to July 7th: The DMI team uses this week to review all the details of your loan and load the data into their system (This is called the “blackout period”.)

a. *The blackout period is a window of time when your loan data is not visible to customer service agents.  Once this period of time is over, the DMI team can assist you with any questions you may have.  Thank you for being patient during this window of time.  

• July 11th:  Your loan is now visible online and to all customer service agents at DMI, this is also the date you can register your loan online.
• July 11th, all payments that were sent to FMB, dropped off at the branch or mailed, and mailed to DMI will be posted to your account as of the date received.

First Merchants Bank has partnered with DMI to service all of our mortgages. DMI is one of the leading mortgage sub-servicers in the country.

DMI is one of the leading mortgage sub-servicers in the country. DMI is highly regarded in the mortgage industry for providing quality customer service and cutting-edge technology to enhance your mortgage experience. 

No, the ownership of your loan is not changing. This change is for loan servicing only.

You can expect an upgraded online experience managing your mortgage with new self-service options, including:

• Address change requests
• Payment history
• Payoff statement requests
• Billing statements
• Escrow disbursement history
• End of the year tax forms
• Automatic payment set-up
• One-time payments
• Customer service/online chat functionality

No. Your welcome packet from DMI will include instructions on how to set up new automatic payments. We recommend reviewing any payments that are scheduled after your mortgage has transferred to DMI to ensure your payments are made as expected.

• First Merchants Bank – Payments can continue to be made at any First Merchants Bank branch.
• Mailed Payments – You can make mortgage payments by mailing a check, but please refer to the Notice of Servicing Transfer packet for the new mailing address, or contact DMI’s Customer Service at 1.855.745.4338.
• Online Payments – To start or continue making mortgage payments online, you must create a DMI account. After your mortgage has transferred to DMI, your loan will no longer appear in your First Merchants Online Banking. Instructions for how to register will be provided in your DMI welcome packet. Rest assured, a grace period is being extended during this transition to allow time to set-up your new online account and reroute payments.

If a payment is received that is less than the total amount due DMI will apply your payment as described below.

• If your mortgage payments are current or paid ahead and a payment less than the scheduled mortgage payment is received:
  • If the payment amount received is within $25 of the total amount due, the escrow on the loan can be shorted in order to make the full payment. Please note that escrow shortages may impact the amount of required escrow payments in the future. 
  • If the payment amount received is not within $25 of the total amount due and there is no indication as to how the payment is to be applied, the payment will be applied first to any outstanding fees or escrow advances, and then to principal. 

For loans transferring to DMI on July 1, 2023, your welcome packet from DMI will provide instructions for setting up your account. Online registration with DMI will be available beginning July 11^th for July 1^st transfers.

Yes. You can access DMI from the First Merchants Bank website at: www.firstmerchants.com/paymortgage

Beginning July 8th for July 1st transfers, if you have questions or need assistance with your loan, please call DMI I at 855-745-4338, Monday-Friday, 8:00 AM – 7:00 PM, or email custserve@yourmortgageonline.com.