I don't recall any requirement or notification. If anything, it is perhaps a change addressed under your loan docs. If it is silent, I would give the customer a 30 day notification of what you'll be doing, and ESPECIALLY what their responsibility will now be. They need to provide you proof of this, by that time.
I'd also offer to open a separate savings account for them to use if they want to move your proceeds check there and contribute to it on their own. You'll need to close it out with an annual or short year statement as well, reflecting the complete disbursement.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell