Successfully owning or buying cash flow notes requires a solid plan for collecting and servicing the payments. But what happens when the note payments are late? John Moren, a 25+ year veteran of the note business, explains the issues with charging late fees on notes. In speaking with our NoteSmith loan servicing software users, I sense a lot of confusion and unnecessary creativity concerning late fees around the country. Here are some issues we have seen over the last few … [Read more...]
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Charging Late Fees on Notes
By John Moren
March 28, 2012 1 Comment Filed Under: Notes 101 Tagged With: Charging late fees on notes, John Moren NoteSmith, note business, note buyers, NoteSmith software, Servicing Notes
