Schedule of Fees and Costs

Type of Fee Fee Description Estimated Fee Amount
Balloon Reset Fee required to reset the interest rate on the loan to the current market rate for the remainder of the loan's amortization. $250
Late Charge Charged when the monthly payment due is not received by the expiration of the grace period defined in the Note. Late fees are calculated based on the terms of the Note and state law.
Lien Release Fee Fee charged to process the lien release $8.50 where permitted by law
Mortgage Documents Request to obtain copy of loan documents No Charge
Non Sufficent Funds Fee (returned payment or returned check fee) Fee charged for a check or a electronic draft that was returned unpaid by the borrower's depository institution. $25 or less as permitted by state law
Partial Lien Release Fees charged to process partial lien releases $300 Application Fee, or where permitted by state law.
Payment History Request for payment history No Charge
Payment via Automated Pay by Phone Service 24-hour Automated Pay by Phone Service No Charge
Payment via Customer Service Representative Fee charged to make a payment by speaking with a customer service representative. $15 or less as permitted by state law
Payoff Demand Statement Request for payoff demand statement (by fax or mail) No Charge
Prepayment Penalty Fee is charged for payoff of the mortgage loan prior to maturity. Amount is based on the terms of the Note
Principal Recast Reamortization of the loan after a significant principal reduction is made to the loan. $250
Qualified Assumption Fee Application for an additional party to assume the loan obligation $300 - $500 per investor guidelines
Recording Fee Fee charged by the county recorder's office to record a full or partial lien release/satisfaction of mortgage Fees vary by state, county, document type and number of pages
Simple Assumption Fee Application for name change, or adding new related co-borrower to assume loan obligation $100 to add a family member, No charge to change name
Subordination Fee Fee to process request to subordinate our mortgage lien to another lender's lien. $195
Verification of Mortgage Fee (VOM) Request for VOM (by fax or mail) No Charge

Default Related Fees

Type of Fee Fee Description Estimated Fee Amount
Appraisal An opinion by a licensed real estate appraiser of the value of the property securing the mortgage $350 - $600 (varies by state and product type)
Bankruptcy Costs Court costs associated with filing proofs of claim, motions and other pleadings in Bankruptcy Court $800 - $1,000 per investor guidelines
Bankruptcy Fees Fees incurred for attorney services when a borrower or other party with an interest in the property files for bankruptcy $800 - $1,000 per investor guidelines
Broker Price Opinion (BPO) An opinion by a licensed real estate broker or agent of the value of the property securing the mortgage based on the value of comparable properties $100-$200 (varies by state and product type)
Foreclosure Costs Costs incurred in the foreclosure process, including service of process, filing fees, publication and posting to notify interested parties of the foreclosure action, and title services. Varies by state and services rendered
Foreclosure Fees Fees incurred for attorney or trustee services when the loan is in foreclosure. $2,000 - $2,500 per investor guidelines and as permitted by state law
Modification Application for Loan Modification No Charge
Property Inspection Fee Inspections are ordered when a loan becomes past due 45 or more days. $12 - $45 (fees vary by investor and inspection type)
Property Preservation Fee Fees for services to secure and maintain vacant or abandoned properties, such as securing the property, property damage repair, removal of personal property/debris, maintaining utilities if necessary, mold remediation, and winterization. Varies by type of service and investor/insurer guidelines
Short Sale/Deed in Lieu Application for Short Sale/Deed in Lieu of Foreclosure No Charge

Note: All Non-Default and Default Fees and Costs are charged only where permitted by the loan documents and applicable state law.