Automatic Mortgage Payment Terms and Conditions

• I understand that only a borrower on the loan can enroll in automatic mortgage payments. I am not a third party.
• I authorize Wells Fargo, its authorized representatives, and service providers to initiate electronic withdrawals from my designated account to make payments on my mortgage.
• I understand that I, or another borrower on the loan, must be the owner on the deposit account used for electronic withdrawals.
• I understand that a business account can only be used to set up electronic withdrawals for my mortgage loan if the business is on the Mortgage Note as a borrower.
• I understand that I will receive confirmation specifying the date the electronic withdrawals will begin. I understand that I will continue to make my payment until I receive this confirmation and electronic withdrawals begin.
• I understand that this authorization and the program services in no way alter or lessen my obligation under my existing mortgage contract regarding the amount of payments, when payments are due, the applications of payments, the assessment of late charges, or the determination of delinquencies. I must maintain sufficient funds in my account for withdrawal of my payment amount.
• I understand that withdrawn funds may not be applied to my mortgage until sufficient funds have accumulated for a full payment to be made.
• I understand that the electronic withdrawal amount will vary with changes in escrow or principal and interest components, if applicable.
• I agree to be bound by these Terms and Conditions.

Note: We must receive notification at least 3 business days prior to any requests to temporarily stop, change or cancel participation in automatic mortgage payments.