Directors Mortgage Online Payments Agreement (“Agreement”)
“I”, “me”, “my” or “mine” mean or refer to each person signing this Authorization. “Directors Mortgage” means Directors Mortgage Inc., its agents, successors and/or assigns. My “Mortgage Note” means the note that I signed when my mortgage closed and any amendments or modifications thereto.
By utilizing the Directors Mortgage online payment option (“Online Payments”), I authorize Directors Mortgage to initiate a one-time electronic funds transfer (“Transfer”) from my checking or savings account (“Funding Account”), using the information I provide to Directors Mortgage, for the purpose of making a mortgage loan payment on the date and in the amount I specify.
I HEREBY CERTIFY THAT NO AUTHORIZATION OF ANY PARTY OTHER THAN MINE IS NECESSARY TO PROVIDE FOR THE WITHDRAWAL OF FUNDS FROM MY ACCOUNT THAT ARE CONTEMPLATED BY THIS AUTHORIZATION.
To utilize Online Payments, I have read and agree to this Agreement, which is applicable in addition to the Directors Mortgage Privacy Policy, Online Services Terms of Use, and any other documents in effect that govern my Directors Mortgage account. Directors Mortgage may amend or change this Agreement from time to time, in its sole discretion.
Using Online Payments
I understand that banks and ACH operators are entitled to rely on Funding Account and Routing Numbers as given by me and that I will be liable for any losses incurred by any person if I have given a wrong account number for my Funding Account or the wrong Routing Number (encoded on the front my check) for my financial institution that holds my Funding Account, and if as a result the wrong person’s account is debited for my Transfer(s).
I HAVE CHECKED MY ACCOUNT NUMBER AND MY FINANCIAL INSTITUTION’S ROUTING NUMBER WITH EXTRAORDINARY CARE. I AM RESPONSIBLE FOR THEIR ACCURACY.
I understand that Directors Mortgage has the right to enforce my Mortgage and my Mortgage Note under their stated terms and this Agreement in no way modifies my Mortgage Note, my Mortgage, or any other documents I signed in connection with my Mortgage loan.
I understand that if my Transfer date falls on a weekend or legal or banking holiday, Directors Mortgage will initiate the applicable transaction on the next business day. This will not change the date of any subsequent Transfer date.
I understand that if I am in default under the terms of my Mortgage Note, Directors Mortgage may cease debiting payments from my Funding Account until such time as I am again current under the terms of my Mortgage Note.
I understand that I may either print the payment confirmation page displayed after I authorize a Transfer or record the confirmation number. Directors Mortgage may also transmit confirmation of a Transfer to me via email.
Unauthorized Transfers, Errors, or Questions
In case of errors or questions about Transfers made via Online Payments or if I suspect a Transfer has been or may be made without my permission, I will contact Directors Mortgage immediately by phone at 1-888-636-1112, by email at payments@directorsmortgage.net, or in writing at Directors Mortgage Inc, 4550 SW Kruse Way, Ste 275, Lake Oswego, OR 97035. I should also contact the financial institution that holds my Funding Account. I am solely responsible for (1) paying my mortgage loan(s) timely, regardless of my method of payment, (2) monitoring my Directors Mortgage account to ensure timely payment, and (3) monitoring my Funding Account to verify that Transfers have been processed and to identify any issues related to Transfers.
Liability for Transfers
Directors Mortgage is not liable for any loss or damage I may incur if: (1) I do not have enough money in my Funding Account to make a Transfer; (2) circumstances beyond Directors Mortgage’s control, including but not limited to, natural disaster, flood, earthquake, fire, war, act of terrorism, or acts of third parties in violation of federal, state, or international law, render Directors Mortgage unable to effectuate the Transfer despite reasonable precautions under the circumstances; (3) I provide erroneous information to authorize a Transfer; (4) I fail to adequately protect my Funding Account data; or (5) the financial institution that holds my Funding Account fails to effectuate a Transfer, causes errors during a Transfer, or provides Directors Mortgage erroneous information. Directors Mortgage IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE, OR OTHER DAMAGE RELATED TO MY USE OF ONLINE PAYMENTS.
Applicable Law
These Terms and Conditions are entered into in the State of Oregon and will be governed by and construed in accordance with the laws of the State of Oregon and the laws of the United States, as applicable, without regard to conflict of law provisions.
Termination, Changes, Assignment, Insufficient Funds.
Directors Mortgage is under no obligation to provide Online Payments and may in its sole discretion and at any time without notice, modify, revoke access to or no longer offer Online Payments. Directors Mortgage reserves the right to assign the obligation to process Transfers to a third party. It is my responsibility to ensure that I have sufficient funds to cover each Transfer and acknowledge that insufficient funds may result in a $35 return payment fee. Directors Mortgage reserves the right to collect this fee, as permitted by law or my promissory note(s), resulting from insufficient funds. Directors Mortgage also has the option in its sole discretion, to terminate my access to Online Payments if any Transfer is returned or reversed due to non-sufficient or insufficient funds, cancellation, stop-payment or any similar designation.