The information in this newsflash applies to Retained Servicing loans.
The verbal ACH Enrollment Disclosure read to customers who sign up for monthly recurring ACH over the phone has been updated.
The time frame for customers to request to cancel ACH in the verbal disclosure has been updated to “… at least 3 business days before your next draft date.”
This information is now consistent with the time frame referenced in the ACH Enrollment Confirmation Letter mailed to customers.
Click here to view the updated disclosure in KnowledgeOwl. This content is located in the ACH and Bi-Weekly Payments Section.
Please see your manager or lead if you have questions.