Notice Of Mortgage Transfer

A transferor of servicing rights under a residential mortgage loan shall give the mortgagor under the loan written notice of the transfer of servicing rights. The notice shall specify the name and address to which future payments are to be made and shall be mailed or delivered to the mortgagor at least ten (10) calendar days before the first payment affected by the notice is due. The mortgagor under the loan shall be entitled to continue to make payments to the transferor of the servicing rights until the mortgagor is given the notice specified herein, and neither the transferor nor the transferee of the servicing rights shall be entitled to enforce any penalties for late payment or non-payment against the mortgagor based on such continuation.