Seller Lender Information SheetINFORMATION SHEET
SELLER / LENDER
WE DO NOT DO COLLECTION WORK. We do not automatically send Past -Due Notices if payments are late. At the
request of you as Seller/Lender we will generate a Payment Reminder Letter. If a Payment Reminder Letter is
sent, a $5.00 fee is charged to the Buyer/Borrower and will be due in addition to the scheduled payment and late
fee.
PAYMENTS ARE POSTED AS OF THE BUSINESS DATE THEY ARE RECEIVED. All monies received are posted first to
outstanding fees due PSC, secondly to late fees, thirdly accrued interest due, and finally principal
LATE FEES. Late Fees are determined by calendar days and not business days, unless specified otherwise in the
Note. We do not have the authority to waive late fees without the Seller/Lender's written authorization.
CHANGE OF ADDRESS. Changes of address must be submitted in writing with the signatures of all those receiving
funds from the disbursement at the address being changed.
RELEASE OF INFORMATION TO A THIRD PARTY. Payment receipts, Verification of Mortgage, copies of documents,
payoff quotes, etc will not be given to any person or entity not party to the Escrow without signed, written
authorization on file. (There is a $25.00 fee for Verification of Mortgage).
INTEREST CALCULATIONS. All Escrows are established on a 365 / daily calculation, unless the Contract specifies
360 / daily calculation (30 days interest due from one due date to the next regardless of when the payment is
made.
**If payments are not received on or about the same date each month, there could be a significant difference in
the amount applied to interest and principal from month to month. EXAMPLE: If 25 days pass between payments,
25 days interest is allocated for the payment being posted, with the balance being applied to principal. However, if
38 days pass between payments, 38 days of interest is allocated for the payment being posted. This could result in
the interest accrued during the 38 days being greater than the scheduled payment amount; hence, the entire
payment will be posted to a late fee if due and finally accrued interest, with no reduction in the principal balance.
DISBURSEMENT PROCEDURE. In most cases we will disburse your payment the same business days after it has
been processed. If we receive a large personal check your disbursement will be held for up to five (5) business
days. If we receive a returned check from your Buyer/Borrower the month prior, your disbursement will be held
for up to five (5) business days.
RETURNED CHECKS. If PAYMENT SERVICING CORPORATION receives a returned check from your Buyer/Borrower,
YOU, the Lender/Seller, are responsible for reimbursing PAYMENT SERVICING CORPORATION. If we receive two (2)
returned payments from your Buyer/Borrower we will require all future payments be make via cash, money order,
or cashier's check.
If you have questions, please feel free to email us ate%g�pygtsryii0garargtianmca or call at 406-257-
8186.
PO Box 327, Kalispell, MT 59903 142 Village Loop, Kalispell, MT 59901 I (406) 257-8186
onronw.PayrnentServicingCorporation.corn I NMLS #1185532