Q. How does the MSP work?
A. MSP works on the concept of making bi-weekly payments, equal to 1/2 your normal monthly mortgage payment. With this automated program and due to the nature of our calendar, you will make an extra payment yearly, without even noticing an effect on your checkbook. Since there are 52 weeks in a year, you will make 26 half payments, or 13 FULL payments. This additional payment is placed directly towards your loan principal balance, therefore reducing interest charges year after year.

Q. How much will my savings be?
A. The amount of savings will vary depending on the terms of your loan. You can view an average savings report here, or for a more detailed report, go to the Interactive Savings Page for a no cost savings evaluation.

Q. What if I change bank accounts?
A. If you change bank accounts, just call customer service and we will happily change your payment information.

Q. How will my funds be collected?
A. The MSP utilizes the Automated Clearing House "ACH" to automatically debit your bank account. This ensures a prompt and accurate transfer of funds. We monitor each client account to ensure the transfer was made successfully and will notify you if there is a problem with the ACH. Your funds are transferred into an FDIC insured bank account, so your funds are always safe.

Q. When will my loan payments be made?
A. Your loan payments will be made the last Friday of each month, ensuring your payments are received by the lender in a timely manner. Once per year the successfully collected extra payment will be sent to your lender and applied to your principal balance. If you have requested additional funds be applied to your normal bi-weekly payment, these funds will be sent to your lender on the last Friday of the month with your normal payment.

Q. What happens with my escrow payments?
A. Your escrow payments will be withdrawn and applied on the same schedule as your normal monthly payments. We will withdraw 1/2 your required monthly escrow bi-weekly, and send in the payments on the last Friday of the month.

Q. What if I sell or refinance my home?
A. The great part of this product is that YOU are signed up to lifetime enrollment, not your loan. So if you change lenders, sell, refinance, whatever the case may be, just call into customer service and we will happily adjust your payment information, at no cost!

Q. What types of loans can I use the MSP for?
A. Although MSP stands for Mortgage Savings Program, because this is our primary focus, and expertise, we will happily consider helping you save interest on any other type of installment loan. Some of our clients are saving money on car loans, boat loans and large credit cards. Just call in for an evaluation, or click on the signup tab.

Q. Who do I contact for questions or changes?
A. You can find our contact info here.

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