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Collection Industry News
AUGUST 18, 2020
However, this will likely change soon, as in June 2020 the minister for legal protection published a preliminary draft of the Temporary Deferral of Payments Act 2020 for online consultation. The post Temporary Deferral of Payments Act 2020 introduced to protect companies from bankruptcy appeared first on Collection Industry News.
Troutman Sanders
AUGUST 18, 2020
If the borrower has received a COVID-19 deferral, the borrower may make additional principal payments. Specifically, if the payment is less than the interest-bearing unpaid balance, the servicer must apply the payment to the interest-bearing unpaid balance. Incentive Fees.
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Collection Industry News
AUGUST 18, 2020
1) – expanding the time period to provide a statement of a consumer’s payment following a consumer’s request for the same from ten (10) days to fourteen (14) days and allowing a collection agency to charge ten (10) dollars up from five (5) dollars for each additional statement requested in a year period; Rule 2.06(2)
Click Notices
AUGUST 18, 2020
Multifamily delinquency management is the process of managing late rent payments through actions such as sending out notices to residents, filing rent suits, and sometimes eviction. What is Multifamily Delinquency Management? . What’s Wrong with Delinquency Management? .
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The Kaplan Group
AUGUST 18, 2020
But if you perform services or provide product for someone before receiving complete payment, you are essentially loaning them money. Other people’s problems can cause you problems. If you own a business, you might not consider yourself a lender. Unpaid invoices are potentially bad debts.
Collection Industry News
AUGUST 18, 2020
Due to a mortgage borrower’s payment default, Federal National Mortgage Association (“Fannie Mae”) filed a judicial foreclosure action in Oregon state court, seeking to force a sheriff’s sale of the property. The answer depends on whether the creditor attempts to recover the unpaid mortgage balance or just the property, according to the U.S.
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With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy
May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST
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