nationwide biweekly administration

Founded in 1990, Nationwide Biweekly Administration, Inc. provides a loan payment acceleration service called the "Interest Saver Program." The company's primary business involves automatically debiting half of a client's monthly mortgage or loan payment every two weeks from their bank account. This schedule results in 26 half-payments, equivalent to 13 full monthly payments, per year. The extra annual payment is applied directly to the loan's principal, which helps customers build equity more quickly, shorten the loan term, and save a substantial amount in interest over the life of the loan. The service is an administrative one, where the company manages the debits and remits the payments to the customer's lender for a fee.