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Posted by Mortgage Closers of San Antonio - Kenneth C Whitton Jr on 11/19/04 2:00pm
My disclosure is quite length, but the two paragraphs pertaining to this subject are as follows:
FEE CONTRACT
All fees are due without regard to the final closing status of the loan. If we deliver a loan package to the borrower and they refuse to sign for ANY REASON, you will be billed and expected to pay the full fee. This form must be signed by a company representative and returned to us via Facsimile prior to any closings. This contract shall remain in force in all work assigned.
INVOICES AND COLLECTIONS
All invoices are due at funding, or net/30, whichever comes first. Realizing that some companies experience delays in funding and payment, aging of invoices will not begin until 60 days past due (90 days from the date of invoice). At 91 days, a billing charge of $10 will be added and the invoice will be turned over to a collection agency for collection. The debtor, will be responsible for any and all fees to collect a past due debt.
Additionally, returned checks are subject to a $25 NSF charge and are placed immediately for collection. The debtor will also be responsible for any fees incurred as a result of collection action for a returned check.
I find that most companies, including NASCOPGH are willing to reciprocate your signing their contract...
Ken
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