Post-Close Servicing Fees
FEE TYPE | FEE AMOUNT | WHEN CHARGED |
Appraisals | Typically, $350-$1,800, depending on property and location, and as permitted by law. | The cost if we required a state-licensed Real Estate Appraiser to determine the current condition and value of the mortgaged property. |
Assumption | Up to $1,800 plus closing costs – As allowed by law, as permitted by the terms of your loan documents, and based on investor guidelines. | This fee may be charged for the processing and underwriting of the application and the preparation of necessary documents if we agree to allow your loan obligation to be assumed by a third party. |
Attorney Fees and Costs | Typically, $3,000-$10,400 as permitted by law, and the terms of your loan documents. | If a foreclosure on your loan is required, the fees and costs associated with services rendered by our legal counsel that handle the foreclosure case will be paid by you. The complexity of the individual case could result in fees and/or costs that exceed the typical range. |
Automated Valuation Model (AVM) | Typically, $6-$15, depending on property and location, as permitted by law, and the terms of your loan documents. | The cost if we required an Automated Valuation to determine the current estimated value of the mortgaged property. |
Brokers Price Opinion (BPO) | Typically, $350-$1,800, depending on property and location, as permitted by law, and the terms of your loan documents | The cost if we required a state-licensed Real Estate Appraiser to determine the current condition and value of the mortgaged property. |
Certified/Overnight Mail Fees | Typically, $40-$100 as permitted by law, and by the terms of your loan documents | This fee may be charged to mail a document certified or overnight. |
Escrow Waiver Fee | The greater of 0.25% of the current principal balance or $150, as permitted by state law and terms of your loan documents | This fee may be charged when a borrower requests escrow to be removed from the loan. |
Home Equity Line of Credit (HELOC) Annual Fee | Based upon the terms of the HELOC agreement and as permitted by law | This fee may be charged annually for an open HELOC based on the terms of the agreement. |
Late Fee | An amount normally a percentage of the monthly installment, depending on the type of loan and the provisions in your loan documents, and in accordance with state statutory requirements | This fee will be assessed if your monthly payment is not received before the grace period ends and in accordance with the terms of your loan documents. |
Lien Release Processing | Varies – Costs incurred to prepare a lien release/ satisfaction of mortgage as well as the actual recording cost(s) as permitted by law, and by the terms of your loan documents. Costs may include but not be limited to document preparation, postage for returning original collateral documents and notifications to borrowers that the loan has been paid in full and released/satisfied and actual recording costs charged by the county | At the time of payoff, the estimated cost to prepare and record the lien release/ satisfaction of mortgage in the public land records, as well as draft any required notifications and return original collateral documents, is calculated and assessed |
Non-Sufficient Funds (NSF)/Return Check Fee | Up to $25 | This fee will be assessed for handling a check, if your bank returns it unpaid or for any reason such as insufficient funds, uncollected funds, stopped payment, not properly endorsed, etc. |
Payment Fee | No Charge | This fee is for making a payment with an agent over the phone. |
Payoff Statement Preparation Fee | No Charge | This fee is the charge to prepare the payoff statement. |
Property Inspection Fee | Varies – typically $15-$60 as permitted by law, the terms of your loan documents, and investor guidelines | This fee will be charged if we are required or determine it is necessary to inspect the property to determine the condition and occupancy of the mortgaged property. |
Property Preservation Fee | Typically, a $10 - $25,000 bond (may vary by loan type, city/state, property lot size, grass height, etc..) and as permitted by law, the terms of your loan documents, and investor guidelines | The cost incurred to maintain the property if the mortgaged property is vacant and/or the cost for vacant property registration. |
Recast | Up to $300 as permitted by law and the terms of your loan documents | The fee charged if you request us to re-amortize your loan or if you make a large principal payment (curtailment). |
Reconveyance Fee | Varies - The cost charged by the county or agency and as permitted by your loan documents | This fee may be assessed to record a reconveyance. |
Recording Costs | Varies - The cost charged by the county or agency | This cost is associated with recording documents with the property county or state as part of the servicing of your mortgage loan. |
Subordination Fee | No Charge | This fee will be assessed if the lien position of your loan is adjusted to be junior to other liens on the property and we process a subordination agreement with you. |
Title Search | Varies - typically, $75-$2,000 as permitted by law, the terms of your loan documents, based on loan type, and property location | This fee will be assessed to conduct a title search if the mortgaged property is referred to foreclosure. |
Verification of Mortgage (VOM) | No Charge | The cost to prepare a VOM, providing the existing balance and payment history on your loan. |
Wire Fee | No Charge | The fee assessed with processing a wire transfer to your bank account. |
FEES ARE SUBJECT TO CHANGE. We make every attempt to disclose typically charged fees and costs, however, this list may not include every fee charged for services rendered, or costs incurred. Additional fees may be charged for services not listed above. If you have any questions about this fee schedule, please log into our website or app to send us a secured message or call 1-866-500-0756.
Cornerstone Capital Bank, SSB | Member FDIC | Equal Housing Lender 
NMLS ID# 2258