Procedures for discontinuing automatic payment services Late charges will continue to be assessed according to the terms of the loan agreement and the payoff amount must include any late charges assessed between the date of this statement and the date payoff funds are received in our office. The borrower is expected to make all payments due on this loan up to the date it is paid in full. Policies regarding collecting payments and assessing late fees prior to payoff of the loan
Quicken loans payoff request full#
Therefore, a borrower may only expect a refund from us if the amount remitted to pay the loan in full is in excess of the required payoff amount less any escrow balance. Policies for handling monies held in escrowįunds being held in escrow are credited towards the amount required to pay the loan in full. Note: please see the special procedures above for Salem Five-to-Salem Five refinances. Eastern Time or if the payoff is received on a non-business day. Posting of payments will be delayed and additional per diem will be collected if the payoff is delivered to any other address, if the payoff is received after 2:00 p.m. Eastern Time, Monday through Friday (excluding holidays) for same-day credit. Payoff funds must be received by 2:00 p.m. Our mailing address, payment cut-off time and policies regarding collection of interest Interest must be paid through the date payoff funds are received in our office.
We do not provide payoff figures or revisions to payoff figures verbally. If the payoff will not occur within 30 days of the request date, you must request a revised payoff statement. This statement is effective through the payoff date listed, and will not be honored more than 30 days from the request date at the top of the statement. Our policies for revisions to this payoff statement IMPORTANT INFORMATION REGARDING THIS PAYOFF STATEMENTįor payoff requests, the Bank may assess a fee: DO NOT SEND US A CHECK for the payoff of the refinanced loan, however you must send us recording information in order for us to prepare a discharge. On that date, we will credit your Salem Five conveyancing account for the new loan proceeds and debit the account to payoff the refinanced loan. If your transaction is a Salem Five-to-Salem Five refinance, interest should only be collected through the funding date of the new loan. SPECIAL PROCEDURES FOR SALEM FIVE-TO-SALEM FIVE REFINANCES
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