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Loan Payments & Servicing

Learn how payments work, why ACH is required, what the grace period means, and what happens if a payment fails or is cancelled.

How Payments Are Collected

All Upright Lending loan payments are collected via ACH through your assigned loan servicer. At time of origination, payments are configured to be drafted automatically.

  • Short-Term (RTL) Loans: Serviced by FCI Lender Services. Payments draw from your interest reserve first, then ACH activates once the reserve is depleted or falls below the minimum monthly payment.
  • DSCR Loans: Serviced by Selene Finance. ACH payments begin from the first payment date. There is no interest reserve on DSCR loans.

If anything changes (bank account updates, timing issues, or a failed payment), reach out early. Your Upright Lending team will help you navigate next steps.

Payment Method (ACH)

  • All payments are made via ACH.
  • Keep funds available ahead of your draft date to avoid disruptions.
  • You can view your payment schedule and make payments through your borrower portal at app.uprightlending.com, or log in directly to your servicer (myfci.com for RTL, seleneFinance.com/borrower for DSCR).

Grace Period

There is a 10-day grace period after the due date (as defined in your loan terms and servicing setup). If payment is not received within the grace period, late charges may apply per your loan documents.

Late Charges and Default Interest

If a loan becomes delinquent or enters default status, default interest and other remedies may apply as described in your loan documents. Contact your branch team immediately if you anticipate any payment difficulty.

If an ACH Payment Fails or Is Cancelled

If a payment fails or is cancelled, we will follow up quickly to understand why and help resolve it. Common causes include:

  • Insufficient funds
  • Bank holds or account changes
  • Incorrect routing or account information

Best Practices

  • Contact your team before the due date if you anticipate a timing issue. Solutions are easier and cheaper when handled early.
  • Payments must be current before any loan is eligible for a construction draw or term extension.
  • If you need to update your bank account information, make the change well before your next payment date.