Posted by Anonymous on 9/8/05 4:29pm
Msg #64252

FACT agreement

What is this, I am doing a HELOC, and I am suppose to make sure they sign it. I am drawing a blank on this. Yes, I did a search, only could find the word "fact".

Reply by LisaWI on 9/8/05 4:45pm
Msg #64253

Who is this loan thru? This sounds familiar to me and Im almost sure I had the same question.

Reply by AnnaCA on 9/8/05 4:48pm
Msg #64257

I signed one of these agreements for my daughter's school tuition. I'll post some of what it says on the back of my agreement:

FACTS Management Co. (FACTS), Lincoln NE has contracted with the educational institution (institution) identified in Section 1 of this agreement to act as its agent for the collection of tuition and/or fees. You as the Responsible Party whose signature appears on this agreement, accept and agree to be bound by the agreement's terms and conditions until the total amount owed is paid in full. Additionally, you authorize FACTS to initiate debit entries to the account listed in Section 3 or any subsequent account provided.

Section 1 outlines the institution to which payment will be made. Section 3 outlines the institution from which payment will be made.

My FACTS agreement did not require a notarization, just my authorization signature to withdraw money from my checking every month to pay for my daughter's tuition.

Hope that helps!

-AnnaCA

Reply by Sherri_IN on 9/8/05 8:07pm
Msg #64279

This is the Borrower agreement and Certification that is usually in the package or e-mailed by NREIS.

Reply by Roger_OH on 9/9/05 11:34am
Msg #64346

They are often in DiTech packages as well.