Posted by Oldbie_CA on 9/27/04 11:49am
Msg #8934

Per diem interest disclosure

I have seen this document many times in loan packets. Can anyone clarify what this document means? Something about they could be charged X amount of interest if their loan disburses on a Monday or a day immediately following a holiday???? It makes absolutely no sense to me.

TIA

Reply by CaliNotary on 9/27/04 12:41pm
Msg #8935

From my understanding, when a loan funds the money is put into the bank the day before the funding. Since that maoneyis no longer in a place where it is earning interest for the lender, they charge that interest to the borrower instead.

If a loan funds on a Monday, the money has to be in the bank on the previous Friday, which means the borrower can get charged interest over the entire weekend. Some loans give the borrower the option of delaying the funding to a day where there will be no more than 1 day interest charged, others simply disclose that the interest will be charged either way.

Reply by CaliNotary on 9/27/04 12:42pm
Msg #8936

"Since that maoneyis no "

Don't you just love when you notice a typo immediately after you hit the "send" button?

Reply by AM - so. Calif on 9/27/04 1:25pm
Msg #8939

Your typo just looks like mayonnaise - LOL!

Reply by HisHughness on 9/27/04 2:34pm
Msg #8945

AM - so. - Calif pointed out:

***Your type just looks like mayonnaise - LOL!***

Knock knock.

Who's there?

Mayonnaise who?

Mayonnaise have seen the glory of the coming of the Lord, He is trampling out the vintage where the Grapes of Wrath are stored...

Reply by BrendaTX on 9/27/04 1:27pm
Msg #8940

CaliNotary: "Don't you just love when you notice a typo immediately after you hit the "send" button? "

Yes. I am in a 12-step program, "Grammar & Spelling Nazi's Anonymous," to stop the overwhelming urge to re-post and correct it.

Just kidding!

Reply by Miss correct on 9/27/04 2:23pm
Msg #8944

Brenda and CaliNotary, I think you two are in the wrong business. Have you thought of changing your careers????

Reply by Stephanie/CA on 9/27/04 2:46pm
Msg #8946

Re: Per diem interest disclosure...Miss correct?????? n/m

Reply by Oldbie_CA on 9/27/04 5:16pm
Msg #8951

CaliNotary

Thanks. Now it all makes sense. I will now go eat my ham and mayonnaise sangwich..LOL

Reply by HisHughness on 9/27/04 7:02pm
Msg #8958

Miss correct says:

***Brenda and CaliNotary, I think you two are in the wrong business. Have you thought of changing your careers????***

What career do you think would be appropriate for them?

Reply by BrendaTX on 9/27/04 9:06pm
Msg #8967

Hugh queried: "What career do you think would be appropriate for them?"

Thanks for asking that one, Hugh. I am on pins and needles waiting to hear!

Reply by CaliNotary on 9/27/04 11:26pm
Msg #8972

English teacher? Motivational Speaker? Presidential speechwriter? Chain letter specialist? King and Queen of the Universe?

Reply by BrendaTX on 9/28/04 12:24am
Msg #8973

CaliNotary suggested: "English teacher? Motivational Speaker? Presidential speechwriter? Chain letter specialist? King and Queen of the Universe?"

------
Excellent ideas! Though I thought the exciting world of being a mobile notary was my calling, I am exceedingly and thoroughly thrilled with the position of chain letter specialist which you have mentioned. I think perhaps that a hybrid combination of Chain Letter Specialist / Queen of the Universe would match my personality profile the best. It looks like Gentle Poster, Miss correct, may have known me better than I know myself.

Do you know...must we submit a resume, or is this a self-appointment?