ACH TERMS OF SERVICE

 

  • You will be notified in writing of the effective date of the first draft. You must continue to make your monthly payments  until you receive such written  notification.  If you do not have a coupon, you may mail your payments to the address below. Please be sure to include your loan number on the check.
  • The funds will be drafted from your account on the day of your choice between the first (1st) and ninth (9th) of each month (if applicable). If your draft date falls on a weekend or holiday, we will draft on the next business day.
  • This form must be received in our office at least five business days prior to the draft date  requested; otherwise, the draft date will be established for the following month.
  • Any changes to your bank account number or routing number must be made in writing to the Customer Care department. Please indicate the month you want the change to be effective. The changes must be received in our office at least five business days prior to that effective date; otherwise, the change will be established for the next month.
  • This authorization will remain in effect until you revoke it or EVERGREEN HOME LOANS cancels it. If you would like to cancel this service, EVERGREEN HOME LOANS must receive your notification at least five business days prior to the ate  you would like it  to be effective either by fax or calling the  Customer Care Department.
  • EVERGREEN HOME LOANS has the right to cancel this service if we receive three (3) insufficient funds notifications from your banking institution in a rolling 12-month period.
  • You have the option to include an additional deduction to be applied to your principal balance. This is a fixed amount in addition to your monthly payment and must remain constant. This additional deduction will continue as long as the automatic draft is in effect. If you wish to change or delete the additional principal portion, we must receive your request at least five business days prior to the draft date.
  • If your loan is an ARM loan, Interest Only loan or has an Escrow Account; and there is a change in the monthly payment,  the  new  amount  plus  any  additional  principal  you  previously  requested, will  be debited from your account.
  • If this form is returned with incomplete information, we will be unable to process your request and the form will be returned to you for correction.
  • You    may    fax   your    request     for    changes    or    deletion    to    833-310-9334        or    e-mail    to Loanservicing@evergreenhomeloans.com