Your lender has required a creditor to be paid from your transaction. You have received the checks in the mail, now what do you do? Below are details on how to send your creditor's check(s).
Payment Processing
1. Write your account number on the memo line of the check.
2. Include your statement or payment stub with the check.
3. Mail your check and statement to the payment address listed on your monthly statement.
4. Creditor checks DO NOT require your endorsement.
Electronic Funds Transfer Awareness
• Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without using paper money transactions. For example, if a check is deposited into a system without calling in check information over the phone, it's considered anEFT.
• Checks issued by Rocket Close cannot be processed electronically (EFT). Any payments made in store are typically processed via an EFT and will be rejected.
• If the check is submitted electronically or without the information listed above, the payment may not be applied and may cause the account to become past due.
Common Issues that Arise
• Consumers send Rocket Close the payment in error.
• Consumers don’t send the payment out because the check is written is more than amount they owe.
• Consumers do not have copies of statements to send out.
• Consumers will cross out the creditor name, replace it with their own name and deposit the funds in their personal account. This can cause your account to be frozen.
All creditor checks are issued as listed on your lender's ClosingDisclosure/HUD. If checks have been issued incorrectly and it prevents you from making payments, please contact us immediately. We require a copy of the billing statement and approval from your lender before the check can be reissued.
If you have any questions or concerns, please contact client relations at (888) 848-5355. We're here for you.
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