Payments to Underlying Obligations

Occasionally, we will come across a “Wrap Loan” or a loan that will have an underlying (UL) obligation payment. We can make these payments on behalf of the lender as long as the proper information is received. When setting up your new account with INCS, please attach the completed Underlying Obligation form to the Service Agreement and review our Terms of Service.This forms give us the necessary information to ensure that your loan is paid correctly.
These disbursements will be made by check and will incur the additional fee outlined on our fee schedule. If your bank or underlying institution allows for electronic payments, please provide their written instructions with set up. Since you cannot always count on the fact that your borrower will pay their obligation to you, on time, we strongly recommend that you make an additional payment to your underlying institution before establishing an account with INCS. We will initiate the payment to your underlying the same day the payment is received from your borrower. However, if you choose not to make the extra payment, there may be instances where you will incur a late charge due to mailing time. Please take this into consideration when establishing your account. If you have questions regarding this service or would like more information, please feel free to call our office.