Below is a listing of possible fees associated with a Consumer Home Equity or Residential Mortgage loan. Fees will only be charged for services that have actually been rendered and varies in accordance with the loan documents and/or applicable law.
| Fee | Amount | Description |
Annual Fee (HELOC) | Up to $50 | Fee will be charged annually. May be waived for selected premium deposit accounts. |
Stop Payment Fee | Up to $35 | Fee assessed for placing a stop payment on an uncashed home equity check. |
Loan Transaction History Fee | No Charge | No fee charged for providing loan transaction history. |
Late Fee | Based upon loan terms and subject to state and local law | Fee is assessed when a loan payment is received after the expiration of any applicable grace period as provided in the loan documents. Typically, between 2% - 5%. |
Extended Service Fee Document Request / Subpoena / Research | $20 / Hour | The bank may charge for answering subpoenas, providing copies of documents or other research when a request is foreseen to require more than 1 hour of a bank representative’s time. |
Subordination Fee | $250 | Fee charged to review the required documents in order to approve and process request to make our loan subordinate to another loan as a result of, for example, a refinance of the first lien mortgage. |
Appraisal or Valuation Fee | Varies by Actual Fees & Costs | This fee is assessed when a borrower asks the bank to determine the current fair market value of the mortgaged property. Example: to remove PMI prior to when required by law. |
Title Change Fee - Estate Planning or Trust Transfer | Varies by Actual Fees & Costs | Fee charged to collect and review the required documents in order to approve and process a transfer of ownership of the property. |
Prepayment Penalty | Varies in terms of the loan note | Fees incurred for paying off the loan prior to a pre-determined date, not to exceed state regulations. Not all loans include a prepayment penalty . |
Loan Modification | $500-$1500 | Fee charged vary and are dependent on Modification request for example Reamortization/Recast of promissory note. |
Recapture Fee/Early Termination Fee | Varies by Actual Fees, Costs and Agreements; and subject to state and local law | If the account is paid off and closed within 36 months, we will recapture the bona fide third-party charges paid by us in connection with the transaction, up to $1,000.00) This is not a prepayment penalty |
Satisfaction of Mortgage Fee Discharge/Release of Lien | Varies by Recorder’s Office. | Fee is charged by the recorder’s office to release a lien on a property at the time of loan payoff. |
Litigation Fees | Varies by Actual Fees & Costs | Examples Include: Bankruptcy, Foreclosure and/or other litigation and may include attorney fees as well as other fees and costs such as court costs, property inspection, property appraisal, Municipal Lien Certificate and other litigation related expenses. |
Property Preservation Fees | Varies by Actual Fees & Costs | Property Preservation is a process the bank may undertake If the mortgaged property has not been maintained according to the loan documents. This includes, but is not limited to, the installation of locks, winterization, lawn maintenance, and repairs. |
This schedule is not all inclusive and contains only a list of common servicing fees. These fees will vary depending on the circumstances and are not charged to the customer’s loan if not permitted by contract or applicable law. Such fees may include, but are not limited to, court costs and attorney fees.