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FEES

Our basic package includes:

  • Payment Coupons
  • Electronic deposit or disbursement via check to your checking, savings or other obligations
  • Annual tax statements to buyer and seller (1098 and 1099 INT)
  • Online account access 24/7
  • Hold the original documents in safekeeping until all terms are met

We also provide:

  • Verification of Mortgage
  • Track late payments and issue delinquent payment notices
  • Distribute payments to multiple investors
  • Maintain reserves for insurance and taxes, and make those payments
  • Investor reports
Basic Service Fees  
New account setup (one-time) $100
Annual service fee $88 (or $7.40 per month)
   
Tax and Insurance Reserve Account  
Reserve account setup $25
Annual handling fee $24 (or $2 per month)
   
Additional fees (annual)  
Payment receipt to buyer $12 (or $1.00 per notice)
Payment notification to seller $12 (or $1.00 per notice)
Additional disbursement fee $39
Additional buyer receipt $20
Delinquent payment notices $30 (or $3 per notice)
Lease agreement (requires setup fee) $65
Real estate commission account (deferred commissions) no charge
   
Per item fees  
Assignment/assumption package $10+ ($1 per page if faxed)
Assignment/assumption $50
Modification/amendments $50
Mailing default notices $100
Insufficient funds check (per occurrence) $30
Amortization schedule no charge
Special correspondence/research $25 per hour
Manual adjustment/reverse entry $25
Faxed correspondence $1 per page
Credit verification $10 ($1 per page if faxed)
Close-out fee $50
Reinstatement fee $75
Special handling (unusual terms) $5 per occurrence
 
*Effective 2/28/2011

 

 
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