What to do when a Firstmark Services account holder dies
Report the death to Firstmark Services customer service at 1-888-538-7378
Notifying Firstmark Services of a death is not a claim for money. It is the step that stops the account and starts whatever the loan's terms provide at the borrower's death, from a discharge of the balance to a claim the estate settles. Firstmark Services customer service (1-888-538-7378) handles it.
Before contacting Firstmark Services, have the account holder's full name, date of birth, and any available account numbers ready.
Death claim process
Here is the step-by-step death claim process at Firstmark Services:
Filing a claim
- FirstmarkServices.com accounts: 888.538.7378
- Firstmark.MyLoanManager.com accounts, which carry a 10-digit account number: 844.649.2917
- The account number on the statement tells the two apart
- A Representative Designation form the borrower completed in advance lets the designated third party obtain information and make changes to the account
- A Release of Authorization form gives information access only
- If neither form is on file, the estate representative asks Firstmark what proof of authority it needs for the loan program
Required Documents
- Death certificate for the deceased borrower
- The deceased borrower's name and Firstmark account number on every page
- Letters Testamentary or Letters of Administration, or a state small estate affidavit, if Firstmark asks for proof of authority to act on the account
- Representative Designation form, if the borrower completed one before death and a third party will administer the account
- Release of Authorization form, if someone needs information access only
Forms Firstmark Services issues1
What happens to each kind of account1
- Loan
Firstmark is the servicer, not the lender. How a loan is treated when the borrower dies is set by the originating lender's promissory note and varies by loan program: some lenders discharge the balance on the borrower's death, and others hold the estate or a cosigner liable.1, 2
Firstmark states that "the legal responsibility for a loan remains with the borrower and any cosigners." Cosigner release is "dependent on your loan program" and must be requested by the borrower, which is no longer possible after the borrower's death.1
While the loan's treatment is being determined, interest continues to accrue, unpaid interest can be capitalized into principal, and Firstmark requires a written application for a forbearance.1
What Firstmark Services's agreement and guidance say2
- Who can get account information
A Representative Designation form, completed by the borrower in advance, lets a third party (spouse, parent, etc.) obtain information and make changes to the account on the borrower's death. Firstmark says it "does not transfer or assign legal responsibility for the loan(s) to the designated representative."1, 2
A Release of Authorization form makes someone an Authorized Party, who can obtain information but cannot make changes to the account.1
- Online access
A cosigner can register an online account and see every loan they cosigned.1
Not in Firstmark Services's published guidance3
- A claim form
- How long a claim takes
- Terms in its agreements for a customer's death
Firstmark Services customer service can be reached by phone at 1-888-538-7378, email at Customer.Service@FirstmarkServices.com, and fax at 1-866-258-9233 for questions throughout the claims process.
Sources
Data sourced from Firstmark Services primary sources (9 pages reviewed). How we research.
Firstmark Services death claims support
Firstmark Services customer service (deceased borrower; Representative Designation and Release of Authorization forms)
Phone
Firstmark.MyLoanManager.com accounts
Fax
Hours
Mailing address
Website
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