Mortgage Transfer Frequently Asked Questions -
People's United Bank

Get answers to your questions about the transfer of your People's United Bank mortgage to M&T Bank.

What's my new M&T mortgage account number?

Why was my mortgage transferred to M&T?

As a result of the merger of People’s United Bank with M&T Bank on April 2, 2022, your mortgage will transfer to M&T systems on September 1, 2022.

Your mortgage will transfer September 1, 2022. Please refer to the Welcome Kit that was mailed to you for complete details. All payments and correspondence regarding your mortgage should be directed to M&T after this date.

Please rest assured, the terms of your mortgage will not change. Your interest rate and the number of payments remaining on your mortgage will stay the same.

You will have a new payment mailing address, as well as a new toll-free customer service number: 1-866-791-0661.  

Your new payment mailing address is:

M&T Bank
P.O. Box 62182
Baltimore, MD 21264-2182.

Be sure to include your coupon with your payment.  If you’ve misplaced your coupon, write your new M&T mortgage account number, which can be found in your Welcome Kit, on your check. If you have misplaced your Welcome Kit, you can locate your new account number using the account lookup tool.  

​M&T Bank was established in 1856 as Manufacturers and Traders Bank. We are a community-focused bank that provides banking, insurance, investments, mortgage and commercial financial services. The combined company employs more than 22,000 people and has a network of over 1,000 branches and 2,200 ATMs that span 12 states from Maine to Virginia and Washington, D.C.

Learn more about M&T Bank >

Your Welcome Kit contains valuable information about the transfer of your mortgage servicing to M&T Bank. Be sure to review it for information about what you can expect during the transfer period.

Your new M&T account number can be found in the Welcome Kit that was mailed to you. If you have misplaced your Welcome Kit, you can also locate your new account number by using the account lookup tool on this website.

​Yes, you will receive a monthly billing statement. You can expect to receive your first statement in mid-September. 

If you prefer to receive electronic statements rather than paper statements, you can enroll online at M&T Online Banking.

How to enroll in eStatements

If you are already enrolled in M&T Online Banking, see instructions on how to retrieve your statement (PDF).

We recommend you save or print your People’s United online documents/prior statements as they will not be available online after September 1, 2022. 

M&T provides the following options for making your mortgage loan payments. There are no fees for these services and you do not need an M&T Bank checking or savings account to make payments:

  • Enroll in automatic payments.
    • Monthly Drafting - If you would like to enjoy the convenience of monthly automatic payments, you can enroll in M&T’s automatic payment service by visiting onlinebanking.mtb.com. To ensure automatic drafting is in place for your October payment, please enroll by September 26, 2022. 

    • Flex Drafting - payments can also be drafted in smaller amounts weekly, every other week or twice a month. Flex Draft enrollment is available at mtb.com/achenroll. Flex Drafting enrollment timeline may vary. 

Monthly automatic payment enrollment will be available after September 8, 2022. 

  • Pay with M&T Online or Mobile Banking. Schedule your payments to occur on different days, from month to month, when it’s most convenient for you.
  • Pay by Phone. You can also use M&T’s Automated Telephone Payment Service 24 hours a day, 7 days a week by calling 866-241-6014
  • Other online payment services. If you have been making mortgage payments automatically through an online banking service or other provider, you’ll need to update the payee information and account number before your next payment due date
  • Pay by Mail or In-Branch. You will start to receive monthly billing statements from M&T with a coupon to make your payments. If you intend to pay by mail or in-branch it is strongly recommended you enroll in eStatements to avoid mailing delays.  It’s also recommended any payments be mailed at least 7 calendar days prior to your due date.

    Payments should be directed to:

M&T Bank
P.O. Box 62182
Baltimore, MD 21264-2182

Be sure to include your coupon with your first payment to M&T. If you’ve misplaced your coupon, write your new M&T mortgage account number on your check. Payments should be made payable to "M&T Bank".

​Yes. People's United Bank will forward the payment to M&T Bank and we will credit it to your account. However, please note that after October 31, 2022 payments will no longer be forwarded. To ensure that your payment is properly applied and that you don’t incur a late fee, please begin mailing your payments to:

M&T Bank
P.O. Box 62182
Baltimore, MD 21264-2182

Payments should be made payable to M&T Bank.

M&T Bank offers two  automatic payment options:

  1. Monthly Drafting - If you would like to enjoy the convenience of monthly automatic payments, you can enroll in M&T’s automatic payment service by visiting onlinebanking.mtb.com. To ensure automatic drafting is in place for your October payment, please enroll by September 26, 2022.

  2. Flex Drafting - payments can also be drafted in smaller amounts weekly, every other week or twice a month. Flex Draft enrollment is available at mtb.com/achenroll. Flex Drafting enrollment timeline may vary. 

Monthly automatic payment enrollment will be available after September 8, 2022.

​Payments can be scheduled at any time as long as it is on or before the last day of your grace period.

Yes, please contact your insurance agent to update the mortgagee clause in your homeowner’s insurance policy, including flood insurance if you have it, to the following:

M&T Bank
ISAOA loan # (new M&T loan number)
PO BOX 5738
Springfield, OH 45501-5738

Please provide us with a copy of the updated certificate of insurance or declaration page by September 30, 2022. You can mail it to the address above or email it to mtb@mycoverageinfo.com.

You can also upload a copy online at www.mycoverageinfo.com/mtb beginning September 8, 2022.

A copy of your new insurance information can be uploaded at www.mycoverageinfo.com/mtb beginning September 8, 2022.

You can also mail it to us at:

M&T Bank
ISAOA loan # (new M&T loan number)
PO BOX 5738
Springfield, OH 45501-5738

If you have any difficulty or additonal questions, please give us a call at 888-882-1847.

If you had an escrow account with People’s United to pay your taxes and insurance, M&T Bank will continue to pay taxes and insurance on your behalf. We can assure you that the payment of property insurance and/or taxes will not be interrupted as a result of the transfer. If your insurance or taxes are paid from your escrow/impound account, and the bill is not paid prior to transfer, M&T will pay the tax bill from your escrow account.

​Normally, we review escrow payments once a year at the same time. Your payment may be adjusted as part of the annual review.

​Your mortgage payment may have increased due to an increase in your taxes and/or insurance bill. The escrow portion of your payment is based on the last tax and/or insurance payment made from your escrow account prior to your analysis. Please see the most recent escrow analysis you received from People’s United Bank for details.

​While most bills are paid electronically, you can mail your tax bill to:

M&T Bank
P.O. Box 23628
Rochester, NY 14692

​Since M&T Bank pays most tax bills using electronic information, you should contact your local tax office for a copy of your tax bill.

​Please call our Tax Department at 1-866-406-0949 and provide the information to one of our representatives. They will document the necessary information so the bill can be paid as soon as possible.

In January 2023, we will send you a mortgage statement for IRS reporting that will include all activity for 2022. You will not receive a separate notice from People’s United.

​Please send in a copy of your orders to report for active duty to:

M&T Bank
Attention: SCRA Servicing
PO Box 900
Millsboro, DE 19966

If your mortgage is your only account with People’s United, or you’ve not used Online Banking in the past, you can enroll in M&T Online or Mobile Banking any time after September 8, 2022 by visiting onlinebanking.mtb.com.

If you have other People’s United accounts, and you’re currently enrolled in People’s United Online Banking, you’ll receive information separately about online access to your accounts.

See how to enroll in M&T Online Banking - View our Access My Mortgage Info Demo

​If you have submitted an application for loss mitigation assistance, M&T will review your submission.  Please be advised that M&T may request additional documents to complete the review of your application.

​If you have submitted a complete loss mitigation application, but have not yet been approved, M&T will complete the loss mitigation review and send you the determination.

If you were offered a modification and have accepted, or are currently making trial payments, M&T will honor the agreement you entered into with the prior servicer.

If your account was modified prior to the transfer and all system changes were completed, the modification and terms will remain in effect.

​Please visit us online at Mortgage Assistance Programs for additional information on solutions that may be available to you.