If a customer’s payment is returned as Non-Sufficient Funds (NSF) while enrolled in the bi-weekly drafting program, their enrollment in the program will be deleted.
When this occurs, MSP will be documented with the comment code:
CHBWRT - Biweekly Draft Deleted Due to Return Item
Customers will have the option to re-enroll in the bi-weekly payment program after bringing their account current on monthly payments.
The Bi-Weekly Enrollment Form and Confirmation Letter have been updated to reflect these changes.
This updated procedure is viewable in KnowledgeOwl for Retained Servicing by navigating to:
Home >> Account Maintenance >> Automatic Drafting – Monthly and Bi-Weekly
or
Click This Link to view the content
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