August REI, LLC acts as an intermediary between the Lender and Borrower. Basic collection procedures start according to the legal docs provided; for example, if Note terms state Due on the 1st, Late after the 10th, we would start the process on the 11th.
Overall, August REI, LLC is a disinterested third party that acts as a “back office administrator” giving the lender as well as the borrower, peace of mind that all payments regarding a loan are being paid in a timely manner.