BI-WEEKLY AUTO DRAFT APPLICATION
Bi-Weekly Auto Draft Program is an electronic savings option designed to help you pay off your loan faster. The plan may
be scheduled around your pay cycles. Please follow the steps within this application to initiate automatic withdrawal from
your bank account for your bi-weekly mortgage payment. The requirements for the plan are as follows:
• The account must be set up on Automated Clearing House (ACH) draft.
• The account must be contractually current.
• The account must be contractually current at least 5 days prior to the initial draft date (the date which the first bi-
weekly installment will be drafted).
• The account must be one full payment ahead
• The initial draft date must be 15 days prior to the next due date.
1. Please provide the following drafting information
Initial Draft Date:
*Additional funds may be required if the above requirements are not met
Loan Number:
Borrower Name:
Bank Name:
Property
Address:
Routing
Number:
Account
Number:
Account Type:
[ ] Checking [ ] Savings
(Optional) I would like an additional $
debited each month and applied to my principal balance.
2. Attach a voided check or savings account deposit slip from your bank
Routing Number Account Number
3. Send the completed form to:
Email:
Fax Toll Free:
702.968.9508
Mailing
Address:
RoundPoint Mortgage Servicing Corporation
P.O. Box 19409
Charlotte, NC 28219-9409
4. Receive Confirmation
You will receive a confirmation letter of successful enrollment in the ACH program. The confirmation will identify the
date of your first scheduled ACH draft payment. We will not be able to process the application if your loan is not current.
BI-WEEKLY AUTO DRAFT PROGRAM
How does the program work?
Once you sign up with ACH, your mortgage payment will automatically deduct from your designated checking or savings
account each month. RoundPoint will send notification to your bank to transfer the exact amount of the mortgage
payment. A record of the transaction will be included each month on your bank statement and your monthly billing
statement from RoundPoint.
How will my payments be applied?
RoundPoint will collect half-payments every two weeks. The funds will accumulate on the account until enough has
been received to process a single contractual payment. In months where more than two drafts occur within a calendar
month, the additional funds will be applied to the principal balance.
What if my payment changes?
If the monthly payment increases or decreases due to changes in the escrow or interest rate (if applicable), you
authorize RoundPoint to increase or decrease the withdrawal amounts by half of that amount.
Does Bi-Weekly ACH cost anything?
There are absolutely no charges to setup or use our ACH service.
Can I still make additional principal payments or escrow deposits?
Yes! If you want to make additional payments, either designate on the application the amount of the principal payment
to be withdrawn in addition to your monthly payment, or simply mail a check for the desired amount. Additional escrow
can be mailed any time. Please include your mortgage account number and the words "additional principal" or "escrow
deposit" on the face of your check.
Can I cancel the Bi-Weekly Automated Clearing House Payment Plan?
Absolutely. You may cancel the ACH service at any time. Simply call our toll free number at 877-426-8805 or send in
a written notice detailing your request at least 15 days prior to your next due date.
What happens if I change my bank?
If you change your bank account, you will want to call our toll free number at 877-426-8805 at least 15 days before your
next draft date to update the ACH service. You may also submit a new ACH application, included above, by email, fax,
or mail with a voided blank check or savings account deposit slip from your new account. A confirmation letter will be
sent upon the successful update of your Automatic Draft to reflect requested changes. Please allow 2-3 weeks for the
updates to go into effect.
If you have any additional questions
Please call us at 877-426-8805. One of our Customer Service Representatives will be happy to answer your questions.
Our offices are open Monday through Friday from 8:00 a.m. until 9:00 p.m. and Saturday from 10:00 a.m. until 3:00
p.m. Eastern Time.
By signing below you acknowledge that the information provided on page 1 is correct and you agree to authorize
RoundPoint Mortgage Servicing Corporation to debit the account specified above for half of the amount of your
scheduled monthly mortgage payment every 14 days.
Signature(s):
Borrower
Co-Borrower
