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 SERVICES
- New account setup $150
- Annual service fee $120 (or $10 per month)
TAX AND INSURANCE RESERVE ACCOUNT
- (In addition to basic service costs)
- Reserve account setup $75
- Annual monitoring fee $50 per reserve type
- (Two annual disbursements for taxes, one annual disbursement for insurance or other impounds)
- Additional reserve disbursements $10
CONSTRUCTION DRAW/RESERVE HOLDING ACCOUNT
- (In addition to basic service costs)
- Reserve account setup $75
- Draw fee per disbursement $25
LEASE AGREEMENT ACCOUNT
- New account setup $150
- Annual service fee $100 (or $8.40 per month)
REAL ESTATE COMMISSION ACCOUNT
- (deferred commissions) complimentary
ADDITIONAL SERVICES
- Payment receipts $15 (or $1.25 per notice)
- Additional disbursement $60 (or $5.00 per month)
- Assignment/assumption processing $100
- Modification/amendment processing $100
- Default notice mailing/processing $175
- Insufficient funds/return item per occurence $40
- Delinquent payment notices $30 (or $3.00 per notice)
- Credit verification per request $25
- Payoff quotation per request $25
- Special correspondence/research $25 per hour
- Manual adjustment/reverse entry per occurence $25
- Close-out fee $100
- Stop payment/replacement check per occurence $25
- Reinstatement fee $150
- Special handling/unusual terms per occurence $5
- Domestic wire fee $30
*Effective March 1st, 2021
