Effective as of 06.22.2026
| Fee | Explanation | Amount |
|---|---|---|
| Assignment | The transfer of ownership of a mortgage from one party to another. |
75 basis points of the original mortgage amount plus other applicable charges such as appraisal, survey, credit report, attorney fees, title, recording fees, etc. Approval subject to bank’s sole discretion.
Example: .0075x$100,000=$750 |
| Brokers’ Price Opinion (BPO) | Broker price opinions usually are performed by a real estate broker or real estate agent and are more detailed than an inspection. BPOs, unlike a simple exterior inspection, provide detailed information concerning the value of the property and include some of the elements of a true real estate appraisal. BPOs provide a current valuation of the property in comparison to other similar properties in the area and are normally obtained in connection with a borrower’s default. | $90 per BPO (for Freddie Mac or FHLB loans only) |
| Late Fee | An additional charge that a borrower is required to pay as a penalty for failing to pay a regular installment when due. | Refer to your promissory note |
| Lender Credit Recapture | The fees on the settlement statement (Closing disclosure or Home Equity Line of Credit Account Agreement and Disclosure Statement) that were paid by the lender at the time of closing that are reimbursable if the loan is terminated within a specified period of time of closing for any reason. | Refer to your Lender Credit Recapture Agreement or Home Equity Line of Credit Account Agreement and Disclosure Statement |
| Modification | Changes permitted at the lender’s discretion to the note and/or security agreement which may include the interest rate, term, loan product, remaining loan amount or title. Modifications are commonly made for aged construction draw loans. | $500 plus any applicable recording fees based on individual municipal fee schedules |
| Partial Release | A written recorded agreement to release a portion of the mortgaged premise subject to the banks’ sole discretion. | $500 plus other applicable charges such as appraisal, survey, credit report, attorney fees, title, recording fees, etc. |
| Payoff Statements | An itemized list of the amounts due in order to satisfy a debt. |
No charge.
|
| Prepayment Penalty | A consideration paid to the mortgagee for the prepayment privilege. | Refer to your promissory note |
| Property Inspection Fee | A simple exterior inspection of the collateral property in order to confirm its occupancy and condition in connection with a borrower’s default. | $50-$75 per inspection |
| Recast | Upon lender’s sole discretion and after a large principal curtailment payment is made by the borrower, the monthly mortgage payment is recalculated based on the remaining outstanding principal balance and loan term. | $500 |
| Release of Liability | An agreement to terminate the personal obligation of a mortgagor in connection with the payment of a debt subject to bank’s sole discretion. | $500 plus other applicable charges such as appraisal, survey, credit report, attorney fees, title, recording fees, etc. |
| Returned Check | A charge when a payment made to your account is returned and the payment is reversed. | $20 |
| Subordination | Acknowledgment by written recorded instrument that a debt is inferior to the interest of another party subject to bank’s sole discretion. |
$500 plus other applicable charges such as appraisal, survey, credit report, attorney fees, title, recording fees, etc.
|
| Telephone Payment | Making a non pre-authorized payment to your loan via a phone call. |
$14.99
|
| Uniform Residential Appraisal Report (URAR) | URAR’s provide a thorough review of the subject property, the neighborhood and recent comparable sales to help bracket a market valuation according to the sales comparison, cost-to-construct, and/or income approaches. After loan closing, they are normally obtained in connection with a borrower’s default or in response to a borrower’s request to terminate mortgage insurance. |
$300-$325 for URAR’s without an interior inspection for loss mitigation purposes
$400-$500 for URAR’s with an interior inspection for mortgage insurance termination purposes
|
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