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 $200
- Annual service fee $180 (or $15 per month)
- Additional Investor Account (Per Sub Account Setup) $25
TAX AND INSURANCE RESERVE ACCOUNT
- (In addition to basic service costs)
- Reserve account setup $100
- Annual monitoring fee $75 per reserve type
- (Two annual disbursements for taxes, one annual disbursement for insurance or other impounds)
- Additional reserve disbursements $15
CONSTRUCTION DRAW/RESERVE HOLDING ACCOUNT
- (In addition to basic service costs)
- Reserve account setup $100
- Draw fee per disbursement $25
LEASE AGREEMENT ACCOUNT
- New account setup $200
- Annual service fee $120 (or $10.00 per month)
REAL ESTATE COMMISSION ACCOUNT
- (deferred commissions) complimentary
ADDITIONAL SERVICES
- Payment receipts $24 (or $2.00 per notice)
- Additional disbursement $75 (or $6.25 per month)
- Assignment/assumption processing $150
- Modification/amendment processing $150
- Default notice mailing/processing $200
- 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 $150
- Stop payment/replacement check per occurence $25
- Reinstatement fee $200
- Special handling/unusual terms per occurence $10
- Domestic wire fee $30
- Partial Release Processing fee $50
*Effective September 1st, 2024.
