Welcome to the terms and conditions (the “Terms and Conditions”) for use of a bank as a payment method on the Pivot Lending Group first/interim payment website. Please note that your use of the Pivot Lending Group website is also governed by our Privacy Policy, which may be amended from time to time and are incorporated into these Terms and Conditions. If you choose to use a bank account as your payment method, you accept and agree to these Terms and Conditions.
Bank Account Payments
By choosing to use a bank account as your payment method, you will be able to pay the mortgage payment due by using any valid automated clearing house (“ACH”) enabled bank account at a United States-based financial institution. Whenever you choose to pay by ACH, you are authorizing Pivot Lending Group (or its agent) to debit your bank account for the total amount of the payment due. Your transaction must be payable in U.S. dollars. Pivot Lending Group, in its sole discretion, may refuse this payment option service to anyone or any user without notice for any reason at any time. Transactions that we process using your bank account will be identified as “Pivot Lending Group” (or similar identifier) on the statement issued by your bank or other financial institution holding your account. All questions relating to any transactions made using your bank account by us should be initially directed to us but may also require involvement of your bank.
ACH Authorization
By choosing your bank account as your payment method, you agree that: (a) you have read, understand and agree to these Terms and Conditions, and that this agreement constitutes a “writing signed by you” under any applicable law or regulation, (b) you consent to the electronic delivery of the disclosures contained in these Terms and Conditions, (c) you authorize Pivot Lending Group (or its agent) to make any inquiries we consider necessary to validate any dispute involving your payment, which may include ordering a credit report and performing other credit checks or verifying the information you provide against third party databases, and (d) you authorize Pivot Lending Group (or its agent) to initiate one or more ACH debit entries (withdrawals), and you authorize the financial institution that holds your bank account to deduct such payments, in the amounts and frequency designated in your then-current payment plan.
Transaction Errors
If you believe that any payment transaction initiated by Pivot Lending Group (or its agent) with respect to your bank account is erroneous, or if you need more information about any such transaction, you should contact us as soon as possible as at payments@pivotlending.com. Notify us at once if you believe that someone has attempted (or may attempt) to make a transfer from your bank account without your permission. We reserve the right to cancel the ability to pay by bank account for any reason at any time.
Your Liability for Unauthorized Transactions
Federal law limits your liability for any fraudulent, erroneous unauthorized transaction from your bank account based on how quickly you report it to your financial institution. As general rule, you should report any fraudulent, erroneous or unauthorized transactions to your bank within 30 days after the questionable transaction first appeared on your bank account statement. You should contact your bank for more information about the policies and procedures that apply to your account and any unauthorized transactions, including any limits on your liability.
Fees
When Customer subscribes to make a first/interim payment to Pivot Lending Group, Customer authorizes Pivot Lending Group and its designated payment processors to store Customer’s designated bank account information and other related information. Customer authorizes Pivot Lending Group to automatically debit all applicable charges for such payment from Customer’s designated bank account via ACH debit on the agreed upon date. Customer agrees to follow NACHA rules applicable to ACH transactions.
In the case of an ACH debit transaction that is rejected for insufficient funds, Customer understands that Pivot Lending Group may at its discretion attempt to process the debit in the amount of the applicable paid product again within thirty (30) days and Pivot Lending Group may separately impose a fee of $25 for each transaction returned for insufficient funds, as permitted by applicable law. You certify that you are an authorized user of Customer’s bank account and Customer will not dispute these scheduled transactions with such bank so long as the transactions correspond to this Agreement.
Customer must notify Pivot Lending Group in writing if Customer disputes any portion of any payment paid by Customer under this Agreement. Customer must provide that written notice to Pivot Lending Group within sixty (60) days of the applicable charge and Pivot Lending Group will work together with Customer to resolve the applicable dispute promptly. If Customer does not provide Pivot Lending Group with this written notice of Customer’s dispute within this 60 day period, Customer will not be entitled to dispute any payment made by Customer.
Electronic Delivery of Future Disclosures
You agree to accept all disclosures and other communications between you and us on this website or at the primary e-mail address provided to Pivot Lending Group account. You should print and retain a copy of all such disclosures and communications.
Agreement Changes
We may in our discretion change these Terms and Conditions at any time without notice to you. If any change is found to be invalid, void, or for any reason unenforceable, that change is severable and does not affect the validity and enforceability of any other changes or the remainder of these Terms and Conditions. We reserve the right to subcontract any of our rights or obligations under these Terms and Conditions.