Sentence examples for apply payments from inspiring English sources

Such terms typically require that a loan administrator apply payments first to real estate taxes, principle and interest, then to other things like late fees or default charges.

It would close a loophole that enables collection agencies to apply payments to their own fees and collection costs before paying down the original debt to homeowners associations.

Still, his administration gave contracts to some former private lenders, including Nelnet, to collect and apply payments as a student loan servicer.

One servicer said there are no instructions for how to apply payments when borrowers send more or less money than owed for the month.

On cards with more than one interest rate, issuers will have to apply payments first to the debts with the highest rates.

In one case, Ms. Magner said, she discovered "a highly automated software package owned by L.P.S". to administer loans that "was programmed to apply payments contrary to the terms of the notes and mortgages".

"We make every effort to apply payment to the taxpayer account," the agency said in a prepared response.

But in one case before Ms. Magner, the bank applied payments first to late fees and property inspection charges.

Participants in the program have complained to the bureau of collection agencies setting incorrect monthly payment amounts, having trouble verifying their income and not applying payments toward the rehabilitation process.

He cited three other federal cases — one in Florida and two in Louisiana — in which Wells improperly collected money from borrowers, applied payments inappropriately, overcharged borrowers or failed to keep accurate records.

The F.D.I.C. also said Sallie Mae and Navient applied payments in a way that maximized late fees and did not properly disclose on borrowers' statements how the fees could be avoided.