Why ACH Is Required
Upright Lending requires ACH enrollment before your loan funds. This ensures payments are collected reliably and on time, and protects you from missed payments and late fees. ACH enrollment is a condition of closing, so make sure it is fully completed and executed before your funding date or at the time of settlement.
How Payments Work After Funding
Phase 1: Interest Reserve (Short-Term Loans Only)
If your short-term (RTL) loan includes an interest reserve established at closing, your initial monthly payments draw from that reserve automatically. No action is needed from you during this phase. You will be notified before the reserve is depleted so you can prepare for the transition to ACH.
Phase 2: ACH Activates
Once the interest reserve is depleted (or falls below the minimum monthly payment amount), ACH automatically begins withdrawing your monthly payment from your bank account. For DSCR loans, ACH payments begin from the first payment date since there is no interest reserve.
Who Collects Your Payments
Your loan servicer depends on your loan type:
- Short-Term (RTL) Loans: FCI Lender Services collects your payments. You can access your account at myfci.com.
- DSCR Loans: Selene Finance collects your payments. You can access your account at seleneFinance.com/borrower.
Due dates and payment amounts are defined in your loan documents. Both servicers offer a grace period after the due date, typically 10 days. Late charges apply per your loan documents if payment is not received within the grace period.
What If a Payment Fails?
Payment issues happen, and they are usually easy to resolve when caught early. Common causes include:
- Insufficient funds
- Bank holds or processing delays
- Recent account changes
- Incorrect routing or account information
Your team will follow up quickly if a payment fails. The best practice is to contact your branch before the due date if you anticipate a timing issue. Solutions are always easier and less expensive when handled proactively. You can also log into your servicer account to make updates to your auto-pay account or make a one-time payment.
Important: Payments must be current before your loan is eligible for a construction draw or term extension.
Making a Payment
You can make a one-time payment or enroll in automatic payments through either of these:
-
Your Borrower Dashboard at app.upright.us/home, which includes a direct payment link to FCI
-
Your FCI account at myfci.com. Inside the FCI portal, the Online Payments menu gives you two options: One-Time Express Payment for a single payment, or Automatic Payment to enroll in autopay (steps below).
Setting Up Automatic Payments Online (FCI Portal)
Enrolling in autopay is the easiest way to keep your loan current and avoid missed payments or late charges. (Prefer to pay one at a time? Use the One-Time Express Payment tab instead.).
Before you start: your loan must be current to enroll, and ACH must be set up at least 5–7 business days before your requested pull date so it processes in time.
To set up autopay:
- Log in to your FCI account at myfci.com.
- In the left-hand menu, click Online Payments.
- Select the Automatic Payment tab.
- Enter or confirm your bank account details.
- Under Agree to Terms, check I agree to the terms above.
- Click Save and Authorize ACH.
Once completed, you will receive a confirmation email verifying your autopay setup.
Note: These steps apply to RTL loans serviced by FCI Lender Services. DSCR borrowers set up automatic payments through Selene Finance; see the details in your welcome package or contact your dedicated branch.
Bank Account Changes
If you need to update your bank account information for ACH, log into your loan servicer directly or reach out to your dedicated branch to obtain a blank ACH form. Return a copy of the completed form, and we'll forward it to the servicer for processing. Make sure any changes are in place well before your next payment date to avoid disruptions.