Subscription FAQ

How does My Mortgage Shop work for the service provider?

How do I subscribe as service provider?

What are the two levels of Subscription?

I'm an existing user who hasn't subscribed to Select and Basic. What happens now?

What is the difference between Select and Basic?

If I sign up for Basic can I upgrade to Select later?

How much does a subscription cost?

How is billing for subscription handled?

How can I activate my subscription if I missed a payment?

What happens if I change my payment method?

Do I need a credit card to become a Basic service provider?

When will I be charged for the first subscription fee?

How do I change my subscription from Select to Basic?

How do I cancel a subscription?

What are the Transaction Fee amounts?

How do I sign up?

How does My Mortgage Shop work for the service provider?

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Users who join Basic can bid on Basic services posted on My Mortgage Shop. Basic members also get their service profile listed in the My Mortgage Shop directory of service providers; potential buyers browse profiles and invite service providers to bid on their services.

Users who join Select get the added benefit of bidding on higher value Select services and are listed at the top of all directories and bid tables.

When service providers win services on My Mortgage Shop, they work out payment terms with the buyer and begin work on the service. The service provider requests buyer payment for work by sending an invoice via the My Mortgage Shop invoice system. (Sending an invoice via My Mortgage Shop is required, although payment may be made by whatever means service provider and buyer agree upon). A transaction fee of 5% is assessed for services posted.

Once the service provider pays the My Mortgage Shop transaction, feedback left by the buyer is displayed in the service provider's profile.

How do I subscribe as a service provider?

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If you are new to My Mortgage Shop, click "Register Now" at the top or bottom of any page and you'll be guided through the registration process, where you can choose your subscription level.

If you are currently registered but not yet a subscriber, you can subscribe to Basic or Select from the My My Mortgage Shop Menu page. Click "Service Profiles/Subscription Status" and then click "Upgrade."

Select service providers (existing and new) automatically have access to all Basic categories, and do not need to subscribe separately to Basic.

What are the two levels of Subscription?

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My Mortgage Shop offers two levels of subscription — Basic and Select. The Basic level allows you to bid on services posted in the Basic marketplace, and gives you a profile page and directory listing. My Mortgage Shop Select gives you exclusive access to Select services, prominent placement for your profile in directory listings throughout the site. Service providers can subscribe to the Basic or Select levels at a monthly, quarterly or yearly rate. Quarterly and yearly subscriptions are available at a significant discount off the full monthly fee.

More about subscription pricing

I'm an existing user who hasn't subscribed to Basic or Select. What happens now?

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My Mortgage Shop offers a free Limited User level for both new and existing users. Existing service providers who have not paid My Mortgage Shop a subscription fee for either Basic or Select will automatically be converted to Limited Users. Limited Users have access to My My Mortgage Shop and will be able to accept services on which they had submitted proposals before April 26, complete services already in progress, and send or receive payments for these services. They can also post services at any time. Limited Users will not be able to submit new proposals or post to service message boards. They will be able to subscribe to Basic or Select at any time from My My Mortgage Shop.

What is the difference between Select and Basic?

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'Basic' is the entry level membership into My Mortgage Shop. Basic subscribers gain partial access to listed services and service engagement tools such as My Mortgage Shop's global billing and payment system.

'Select' is for established businesses and professionals and is subject to stricter qualification standards. In return, Select subscribers have access to the 'Select' set of services and higher marketing visibility on directories and searches. They also gain access to advanced functionality such as confidential proposals designed to differentiate their offerings and protect their intellectual property.

In general, the advanced functionality and stricter qualification for buyers and service providers in Select results in larger and more qualified services being transacted.

You can choose the Select service provider option during registration. If you are already registered, you can upgrade to Select in 'My Mortgage Shop'.

Comparisons between My Mortgage Shop Select and My Mortgage Shop Basic memberships:

If I sign up for Basic can I later move up to Select?

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You can upgrade your status to Select at any time. Unused fees paid for Basic will be credited to your Select fee. You will then need to meet the Select terms — credential and/or identity verification and agree to the Select Professional Standards. To upgrade, go to My My Mortgage Shop Menu and click the Service Profiles/Subscription link. From the Profile Menu, click the "Upgrade" button.

How much does a Subscription cost?

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When you subscribe to My Mortgage Shop, you choose a monthly, quarterly or yearly subscription. Basic and Select subscribers get access to all services in Basic. Select subscribers also gain access to services in the Select categories to which they are subscribed.

These fees are waived for the first 3 months if you sign on before January 1, 2003.

How is billing for subscription handled?

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My Mortgage Shop will automatically charge your credit card or My Mortgage Shop Account, depending on the payment method you choose, each billing period until you cancel your subscription according to the steps outlined below. For example, if you choose a monthly payment term, My Mortgage Shop will automatically charge you the monthly subscription fee every month unless you cancel your subscription.

Depending on the payment method you choose during registration, My Mortgage Shop will either bill your credit card directly or debit funds from your My Mortgage Shop Account. If you upgrade to Select in the middle of your billing cycle, your billing date will change to reflect the date on which My Mortgage Shop received payment for the new Select bundles. Select service providers may have more than one billing date if they sign up for various Select category bundles at different times.

Downgrading or cancellation of any subscription will not result in any refund of fees already paid.

Your subscription status will not be activated until My Mortgage Shop receives your payment. New users and existing users who do not have funds in their My Mortgage Shop Account are encouraged to pay with a credit card, which My Mortgage Shop can charge immediately and then activate your subscription status.

What is the difference between paying for subscription by My Mortgage Shop Account and paying by credit card?
When you pay by credit card, payment is processed immediately and your subscription status becomes effective immediately. If you choose to pay by My Mortgage Shop Account, you must deposit enough funds in your account (or receive funds into your account via a buyer's payment for your services) to cover the subscription fee. You will not be considered a subscriber until My Mortgage Shop is able to deduct the required fee from your account.

How can I activate my subscription if I missed a payment?

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You have several options for paying the subscription fee if you missed a payment or signed up with an un-funded My Mortgage Shop Account:

• Click "Pay this amount now" from the Billing Details area on the Subscription Status page. You will have the option to enter a credit card to pay the fee or choose your My Mortgage Shop Account (if sufficiently funded). If you choose to pay by credit card, your subscription status will be immediately activated.
• Send My Mortgage Shop a check or wire transfer. The funds will then be deposited into your My Mortgage Shop Account and used to pay the subscription fee.
• Receive payment from buyers through My Mortgage Shop's Billing and Payment system. If buyers pay you through the My Mortgage Shop Billing and Payment system, the funds will automatically be deposited into your My Mortgage Shop Account and will be used for the subscription fee.

What happens if I change my payment method?

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You can change your payment method from the Subscription Status page.

When you change your payment method, the new method of payment will be used for future payments of the subscription fee and any past due amounts.

If you change your payment method to a new or existing credit card, My Mortgage Shop will charge your card the subscription fee on each billing date.

If you have sufficient funds in your My Mortgage Shop Account, you can change your payment method from credit card to My Mortgage Shop Account. My Mortgage Shop will then deduct your subscription fee on each billing date from your My Mortgage Shop account.

Do I need a credit card to become a Basic service provider?

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My Mortgage Shop does not require a credit card for service providers. Your subscription fee may be paid through your My Mortgage Shop Account, which can be funded by check, wire transfer, credit card, or payments sent by buyers through My Mortgage Shop Billing and Payment.

Your subscription status will not be activated until My Mortgage Shop receives your payment. New users and existing users who do not have funds in their My Mortgage Shop Account are encouraged to pay with a credit card, which My Mortgage Shop can charge immediately and then activate your subscription status.

When will I be charged the first subscription fee?

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You will be charged the first subscription fee immediately upon completing the sign-up process. This first charge will cover your subscription for the full term (monthly, quarterly or yearly). My Mortgage Shop will automatically renew your subscription on the next term billing date unless you cancel.

How do I change my subscription from Select to Basic?

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You must first cancel your Select subscription before you can subscribe to Basic. See How do I cancel a subscription?

How do I cancel a subscription?

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If you decide to cancel your subscription, cancellation will go into effect at the end of your present billing cycle. No partial refunds can be given. There is no My Mortgage Shop cancellation fee. Your cancellation request will be effective within 3 business days of receipt of your request. My Mortgage Shop will send you an email confirmation once your subscription has been cancelled. You will not be liable for any additional subscription fees after your cancellation is effective.

Online Cancellation
You can cancel your subscription online by accessing My My Mortgage Shop. To do so, login to My My Mortgage Shop and click "Manage Subscription" link. Then click the "Cancel Subscriptions" link located on the Subscription Status page. You will be asked to choose the subscriptions you want to cancel.

Cancellation by Email, Fax or Phone
To cancel your subscription, please send the information below to us via email (service@mymortgageshop.com), fax (1-703-404-1231) or certified mail at:

My Mortgage Shop, Inc
46707 Cavendish Square
Sterling, VA  20165
Re: Subscription Cancellation

Cancellation goes into effect at the end of your present billing cycle. No partial refunds can be given. There is no My Mortgage Shop cancellation fee.

Please include your full name, your My Mortgage Shop username, phone number and address. Please detail the nature of your request: How many subscriptions you wish to cancel (please specify Basic or Select). If Select, name which categories. The current term (Monthly, Quarterly, Yearly) of each subscription you would like to cancel.

Additionally, for account security purposes, please provide the following: the LAST FIVE DIGITS OF THE CURRENT PAYMENT METHOD USED FOR THIS ACCOUNT (For your security, write only the last five digits. If you are paying by your My Mortgage Shop Account, please specify the latest activity to your My Mortgage Shop Account.) and A PRINTOUT OF YOUR SUBSCRIPTION DETAILS PAGE (only if you are canceling via fax or certified mail)

Your cancellation request will be effective within 3 business days of receipt. My Mortgage Shop will send you an email confirmation once your subscription has been cancelled. You will not be liable for any additional subscription fees after your cancellation is effective.

Please note that we will not be able to process cancellation requests unless all of the above information is provided.

Users should be aware that My Mortgage Shop is not responsible for refunds due to lost mail or delays caused by postal mail. You may also contact My Mortgage Shop Customer Service from 9am to 6pm EST at 703-404-1233.

What are the Transaction Fee amounts?

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The Transaction Fee is based on a percentage of the total service amount. It is 10% for all services. There is a $10 minimum Transaction Fee for all accepted services, regardless of the bid or invoiced amount.

Buy Now service offers are subject to a 15% transaction fee.