Reply by Linda_H/FL on 1/14/12 10:34am Msg #409032
Your initial follow-up should be with the SS/hiring party
if, after a reasonable amount of time and number of attempts to collect then IMO you can contact title for help. I wouldn't contact lender unless you were hired by the LO - then contact LO - otherwise, Lender is out of it. Also, do NOT contact borrowers - they've paid their tab.
For me, I follow up at the 30 day mark - if they respond to me I'll work with them for up to 30 days - if they still fail to pay, now I send them a letter with a copy to title.
If they do not respond to my initial contact at 30 days, after about 10 days I look to title to help me.
All also depending on the working relationship I have with the company and the agreement made as to when payment will be made. Many companies have clauses that they pay at 45 days. I have one company used to pay at 30, then it went out to 45 - last time I talked to her she told me they're going to start paying at 90 days - for me, that's totally unacceptable.
JMO
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