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State of New York Specific Servicing Fee Schedule
FEE
AMOUNT
DESCRIPTION
Balloon Loan Reset Fee
As stated in the loan documents; $250.00 to $350.00
Fee charged to review the loan documents to modify a balloon loan to extend the maturity date.
Custom Amortization Schedule
$15.00
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.
FHA Title Change with Release of Liability (plus cost of credit report, title update and recording fee)
$900.00
Fee charged to collect and create the required documents to approve and process the release of a borrower from liability under an existing FHA loan.
Modification Interest Rate/Term (plus title fee if applicable)
$450.00
Fee charged to review the loan to approve and process changes to the terms of the loan.
Modification Principal Reduction
$300.00
Fee charged to review the loan to approve and process a principal curtailment and recalculate the loan payment schedule based on the decreased principal amount.
Mortgage Loan Assumption
1% of principal balance; $400.00 to $900.00
Fee charged to collect and create the required documents to approve and process the addition of a borrower assuming liability under an existing loan.
NSF or Returned Check
$20.00
Fee charged when the borrower’s loan payment is rejected.
Partial Release/Easement (plus cost of appraisal)
$250.00
Fee charged to collect and review the required documents to approve and process the release of a portion of the property secured by the loan.
Re-Amortization Fee
$500.00
Fee assessed to re-amortize the loan and recalculate the monthly payment; requires signed agreement from member.
Subordination Fee
$150.00
Fee charged to collect and review the required documents 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.
Title Change / Estate Planning / Trust Transfer (plus cost of recording fee)
$100.00
Fee charged to collect and review the required documents to approve and process a transfer of ownership of the property.
VA Title Change with Release of Liability (plus cost of credit report, title update fee and recording fee)
$300.00
Fee charged to collect and create the required documents to approve and process the release of a borrower from liability under an existing VA loan.
* Maximum fees may not be reflective of actual maximum fees assessed in states where such amounts exceed the statutory limits.
