A late charge is assessed if PLM receives your payment after the grace period has expired. To safeguard against a late charge being assessed, remember that your payment is due on its "DUE" date, not at the end of the grace period.

As specified in your Welcome Package, PLM nor its lenders have a proprietary modification or forbearance program. Should you fall delinquent, you should contact our office immediately. Depending on the lender, an arrangement may be worked out with you.

Yes, if your corporation or LLC with an EIN is not the borrower, you will receive a 1098 form.

Although PLM does not require an email address, we find it helpful for immediate communication.

Yes, please contact us in writing at [email protected] and [email protected]. We will call the phone number on file to confirm this move.

You can pay by check to PLM Lender Services, Inc., 5446 Thornwood Drive, 2nd Floor, San Jose, CA 95123, via ACH where PLM originates the withdrawal, one-time ACH and monthly ACH are available, automatic bank checks, initiation through PLM's portal (if loan is authorized), wires are accepted for payoffs, large principal paydowns and on limited transactions, walk-in to our office.

PLM has limited documentation from the loan origination. However, at the boarding of your loan, you will receive a recorded copy of your deed(s) of trust. Should you need a copy of your note or your payment history, please feel free to contact our office.

PLM does not reach out to credit reporting agencies and report. PLM will respond to a Verification of Mortgage sent to PLM by a party (with your signed authorization).

Yes, you can typically pay additional principal but you will want to review your promissory note to be sure there is not a penalty for early payment of principal or a restriction of paying off or paying down early.

If you fall delinquent and PLM does not have enough money in the impound account to pay your taxes, the taxes will not be paid and a late penalty will be incurred by the county tax collector. As to your insurance, under some loans, it is required that the insurance be paid and under other types of loans, we/the lender can choose not to pay it.

If your loan falls under particular guidelines from a federal or state governing body, there are restrictions as to when and why a foreclosure may be commenced. If your loan is a business purpose loan on your own home or if the loan is on a property other than your primary residence, a foreclosure may be commenced for any default under the loan documents. This includes a single payment default, multi-payment default, matured loan, non-payment of taxes, insurance premiums, payments to underlying senior lien, transfer of title, just to name a few of the reasons a foreclosure may be commenced.

Within one month, PLM shall issue a Deed of Reconveyance and record it. A copy will be sent to you with the original promissory note if PLM is named as the trustee. If the lender is named as the trustee, they may or may not automatically return the note marked paid to you. You may need to request it.

PLM can either send them to you ACH or through the US Postal Service. We do recommend ACH. There is no cost to the lender and it is secure, bank to bank.

Typically you will not see a payment on the actual due date. It is standard for borrowers to wait to send their payments so that PLM receives them on their last day of their grace period. It can take three days to process the funds and 7-9 days to release the funds. So, you may routinely see payments the third week of that month. On a payoff from a title company when a wire is received by PLM, an ACH is typically generated within one business day.

Depending on who the originating broker is, they may or may not continue to be involved in the transaction. You will want to ask them this question when funding a loan with them.

No, PLM does not originate loans.

Yes, if the borrower agrees to this. There is a deposit that will be required to start the impound account, documents must be signed, an administration fee to draw the impound documents and there is an additional $15.00 per month fee for administering the impound account that the lender(s) must pay their pro-rated share.

Yes, PLM is licensed as a CALDRE Real Estate Broker and has an NMLS endorsement. PLM carries E & O insurance, a fidelity bond and mortgage impairment insurance.

PLM will make calls, send late notices and Notices of Intent to Foreclose when needed. If the borrower does not respond, PLM will ask if you would like to start a foreclosure.

Yes, PLM will pay a portion of the servicing fee to the originating broker by way of contract.

Yes, PLM can send reports to your broker monthly.

Yes, you, and if you would like, your broker can have 24/7 access to your accounts to review each loan.

If the loan falls under particular guidelines from a federal or state governing body, there are restrictions as to when and why a foreclosure may be commenced. If the loan is a business purpose loan on an owner occupied home or if the loan is on a property other than a primary residence, a foreclosure may be commenced for any default under the loan documents. This includes a single payment default, multi-payment default, matured loan, non-payment of taxes, insurance premiums, payments to underlying senior lien, transfer of title, just to name a few of the reasons a foreclosure may be commenced.

A foreclosure takes approximately four months from date of recording of the Notice of Default to date property is sold at public auction. Legislation, from time to time, may change the timing of this.

A foreclosure may be reinstated up until five business days before the actual trustee sale. After that time, a lender may require the entire loan to be paid in full.

Yes, you will together with any delinquent taxes and show evidence of current insurance.

The following fees are charged on a foreclosure: Trustee's Fee, Trustee Sale Guarantee, recordings and mailings; if a sale is set, an additional amount is due for the Trustee's Fee, posting, publication, recordings, postponements and mailings. Additionally, there may be fees due to register the property and additional fees written into the loan documents and allowed fees by statute not written in the loan documents.

Complete a PLM order form, sign and send with a copy of the prelim and loan application. A broker will need to have a master contract on file with PLM. Non-broker documents must have all parties sign the document order form and pay their document fee up front. PLM will bill escrow for broker's documents.

Yes and multiple lender/multiple property loans also.

Conventional loans on 1-4, commercial property, land, etc.; step rate loans, lines of credit, adjustable rate, all-inclusive loans and modifications.