Posted by mes/IL on 7/18/05 12:46pm
Msg #52915

Newline Funding,anyone worked for them?

Did a refi the first week of June for them and to my surprise they almost doubled my asking fee.Called a couple days ago to see when I can expect payment, as its been almost 6 weeks.Was told the borrowers property is now in foreclosure and they won't be paying me in the near future.I told them it wasn't my problem,I expect payment for the job I completed.When I became a bit angry,I was told this behavior wouldn't get me any more jobs from them!!I ended the conversation by asking when could I expect payment, a month or two or three...She said she would call me when the borrower 's house was out of foreclosure and she would want to refinance again.This is really unacceptable to me,but I am at a loss as how to proceed with this co.Is there anyone out there who has had any non-payment issues w/them?I would appreciate any info.Thanks in advance!

Reply by Shannon/Va on 7/18/05 12:52pm
Msg #52917

Does your confirmation from them have any little clause about if the loan doesn't fund or if the borrowers cancel within their 3 days, will you be paid or not? Most of my clients have something on the confirmations about that.

If not, then I say you are due your full fee. You did your part of the agreement and they owe you your fee, no matter what the borrowers situation is. And remeber, your confirmation serves as the written contract between both of you.

Now I am not giving UPL or anything, but I had a similar situation, as I am sure we all have at some time, but that confirmation is a contract, and your part was fufulled.

Reply by Nancy on 7/18/05 4:58pm
Msg #52958

I have not worked for them. Are they also the lender? If not the lender find who is and go there.