SELLER OPENING LETTERThank -you for choosing Payment Servicing Corporation!
Payment Servicing Corporation is acting as your Escrow Agent/Mortgage Servicer, a disinterested third
party. Our function is to receive your Buyer's payments, apply the payment to the obligation according
to the terms of the Note, and disburse funds to the Seller/Lender. We maintain a complete payment
history, issue receipts to both parties and provide necessary documents to prepare your tax return. We
also hold the documents stated in your Escrow Receipt until the obligation is paid in full and the
documents are ready to be released.
The Fee to open your account with Payment Servicing Corporation is due at the time your Account is
presented for opening. If the Opening Fee is not paid in advance and you agreed to pay all or a portion
of the fee, it will be deducted from your regularly scheduled disbursement. The Escrow Receipt
indicated to PSC who is responsible to pay the fees.
Your portion of the monthly processing fee, if applicable, will be deducted from your disbursement.
Please also keep in mind that funds presented to Payment Servicing from your Buyer/Borrower are
remitted to you immediately in good faith. Should the funds be returned to Payment Servicing for any
reason, you, the Seller/Lender are responsible to return the funds Payment Servicing remitted to you
until such a time as the funds are collected and ready once again to be dispersed.
A closing fee is assessed upon closing your account with Payment Servicing Corporation. Any additional
fees incurred that remain outstanding are due in full prior to your account closing.
A confirmation for disbursing your payment is attached. If additional services are required to service
your portion of the account resulting in increased fees, your disbursement amount will be adjusted
accordingly.
We require written requests with all Seller/Lender's signatures to change disbursements and addresses.
If there is more than one Seller/Lender associated with this account you can change your individual
information without obtaining the additional Seller/Lender's signatures.
Please feel free to contact Payment Servicing with any questions at 257-8186 or via email g.l.g.in Also, our website address is
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PO Box 327, Kalispell, MT 59903 142 Village Loop, Kalispell, MT 59901 I (406) 257-8186
www.PayrnentServicingCorporation.corn I NMLS #1185532