Mortgage Servicing Fee Schedule

 

Mortgage Servicing Related Fees
Fee Amount

Custom Amortization Schedule

Fee charged to review the loan and create a customized loan payment schedule for the borrower which shows the effects of varying hypothetical changes to factors affecting loan payments.

$15.00

Foreclosure Fees and Costs

Fees and costs charged that are paid by the lender after a borrower defaults to bring legal action in order to take possession of the property secured by the loan according to the loan documents. These include, but are not limited to, attorney fees for legal services performed and costs paid to a third party, such as a court clerk, sheriff, title company, or other entity, for necessary expenses related to the legal proceedings.

Actual fees and costs – vary by state

Late Charge

Fee charged when the borrower’s loan payment is received after the expiration of any applicable grace period according to the loan documents.

As stated in loan documents (typically 2-5% of payment)

NSF (Non-Sufficient Funds) Fee

Fee charged when the borrower’s loan payment is rejected by the borrower’s bank or cannot be honored because there are not enough funds in the borrower’s account, the borrower’s account is closed, the borrower’s authorization is revoked or due to other reasons.

Varies by state

Modification Interest Rate/Term (plus title fee if applicable)

Fee charged to review the loan in order to approve and process changes to the terms of the loan.

$450.00

Modification Principal Reduction

Fee charged to review the loan in order to approve and process a principal curtailment and recalculate the loan payment schedule based on the decreased principal amount.

$300.00

Mortgage Loan Assumption (qualifying, plus cost of credit report, disclosure and recording fee, if applicable)

Fee charged to collect and create the required documents in order to approve and process the addition of a borrower assuming liability under an existing loan.

1% of principal balance ($400.00 to $900.00)

Mortgage Loan Simple Assumption (Title change and/or addition of co-borrower without release of liability plus cost of disclosure and recording fee)

Fee charged to collect and create the required documents in order to approve and process the addition of a borrower to liability under an existing loan.

$100.00

VA Title Change with Release of Liability (plus cost of credit report, title update fee and recording fee)

Fee charged to collect and create the required documents in order to approve and process the release of a borrower from liability under an existing VA loan.

$300.00

FHA Title Change with Release of Liability (plus cost of credit report, title update and recording fee)

Fee charged to collect and create the required documents in order to approve and process the release of a borrower from liability under an existing FHA

$900.00

Title Change / Estate Planning / Trust Transfer (plus cost of recording fee)

Fee charged to collect and review the required documents in order to approve and process a transfer of ownership of the property.

$100.00

Subordination

Fee charged to collect and review the required documents in order to approve and process the priority status change of a loan to make it subject to (or in a junior lien position to) another loan as a result of, for example, a refinance of the first lien mortgage.

$150.00

Partial Release/Easement (plus cost of appraisal)

Fee charged to collect and review the required documents in order to approve and process the release of a portion of the property secured by the loan.

$250.00

Pay by Phone with Representative

Fee charged when the borrower elects to have a collection representative process a loan payment over the phone.

$11.50

Pay by Phone without Representative

Fee charged when the borrower elects to make a loan payment over the phone through the automated Interactive Voice Response (“IVR”) system without the assistance of a collection representative.

$9.50

Property Inspections

After the loan is in default or notification is received that the property has not been maintained according to the loan documents, a fee is charged to secure and preserve the property and/or correct any conditions that may affect the property’s value or cause harm to the surrounding community. This includes, but is not limited to, the installation of locks, winterization, lawn maintenance, and repairs.

Standard Exterior Inspection ($15.00) Standard Interior Inspection ($20.00)

Property Preservation

Fee charged to collect and review the required documents in order to approve and process a transfer of ownership of the property.

Actual cost

Balloon Loan Reset Fee

Fee charged to review the loan documents in order to modify a balloon loan to extend the maturity date.

$250.00 to $350.00

Bankruptcy Fees and Costs

After a borrower files for bankruptcy protection from creditors, fees and costs charged that are paid by the lender and related to the legal proceedings. These include, but are not limited to, attorney fees for legal services performed and costs paid to a third party, such as a court clerk, or other entity, for necessary expenses related to the legal proceedings.

Actual fees and costs – vary by state

All fees listed are basic loan servicing fees.

Fees will be charged to the extent permitted by applicable GSE guidelines, investor requirements, the mortgage documents and State and Federal law. This fee schedule provides general information on common costs that could be associated with servicing a first lien, closed-end mortgage loan account. It is not a complete list of all costs that could be assessed to a mortgage loan account. Additional fees and costs may be incurred if, for example, the mortgage loan becomes delinquent, the borrower files bankruptcy, or the property associated with the mortgage loan becomes subject to litigation. Such fees could include, but are not limited to, court costs and attorneys’ fees. These fees and costs vary with the circumstances of the case and the nature of the work performed. This fee schedule is subject to change without prior notice.

Payment Options: Some payments can be made by telephone. When permitted by applicable law, a fee may apply for this service in the amount of $9.50 when using the automated system, or $11.50 when speaking with a live representative. Payments can be submitted by mail or online for no additional fee, and other free payment options may also be available. To make a telephone payment or obtain information about free payment options, please contact us at 1-800-669-4268.

Please contact Customer Service to confirm current fees when requesting any of these services.