Mortgage Servicing Fee Matrix
Fee or charge
Description
Amount
Late payment fee
When a payment is received after the time
specified in your loan agreement.
Varies by state. Based on terms of
agreement.
Fee amount may be determined by:
- Percentage of the overdue payment
of principal, interest, taxes and
insurance or of principal and interest
- Loan product type
- Flat fee amount
Non-sufficient funds
(NSF) fee
When a payment is rejected by your financial
institution for any reason, including insufficient
funds in the account or if the account is closed.
Varies by state, with a $10 minimum and
a $25 maximum.
Qualifying and
non-qualifying
assumption fee
When your debt is assumed by another party,
and when it is permitted according to your
contract terms, this fee covers the cost of
underwriting, preparing, and processing
documentation.
Third-party fees: These may be charged for
flood certification, property valuation, titling
costs, attorney fees, notary fees and any other
associated closing fees.
Assumption fees vary based on investor.
Qualifying assumption fee:
$300 minimum to $900 maximum
Credit report fee: $46.50 per person
Employment verification fee: $17 per
person
Non-qualifying assumption fee:
Trusts, VA divorce, Add Name: $25
Successor in interest assumption fees:
VA: $50
Conventional: $100
FHA: $125
Lien release/
reconveyance fee
There is no U.S. Bank fee to release recorded
liens.
Third-party fees: These may include recording
charges assessed by the local land record
offices or charges paid to third parties,
including trustee fees for lien release or
reconveyance service.
$0
Varies according to local government
recording charges and any third-party
charges
Partial lien release fee
U.S. Bank will contact Single Source or
Valuation Connect to request a current
appraisal. They will contact you directly with
details and fees.
Varies based on guarantor and investor
$50 minimum to $1,900 maximum
Loan modification fee
When an Adjustable-Rate Mortgage (ARM)
loan is converted to a fixed-rate loan.
Fee amount will vary based on what is
determined and outlined in the original
mortgage note.
Fee or charge
Description
Amount
Recast modification fee
When the borrower requests to apply a large
principal reduction and have the remaining
principal balance amortized over the remainder
of the loan. The fee is not chargeable for
bankruptcy or The Servicemembers Civil Relief
Act (SCRA).
$250
Escrow waiver fee
There is a monthly collection for escrow and
payment of taxes and insurance (and other
escrow items as applicable).
Customers may request waiving the escrow
requirement, at origination or after, and there
may be a waiver fee, based on risk assessment.
0.25% of current unpaid principal
balance to waive entire escrow
0.125% of current unpaid principal
balance to waive hazard insurance or
taxes
Subordination fee
When a request is made by another lender to
subordinate our lien position with theirs.
$250 for closed-end mortgage external
requests
$250 for HELOC external requests
$0 for internal requests
Pre-payment penalty
(PPP) fee
Review the contract for any PPP fees.
Based on a percentage of the principal
balance and the time between when the
mortgage is paid off and the original
loan payoff date.
Home equity line of credit
(HELOC) annual fee
Annual fee assessed to allow HELOC funds to
be readily available to the borrower.
Based on the county in which the
collateral is located
$0 minimum to $90 maximum
Home equity line of credit
(HELOC) late fee
When a payment is not received within the time
specified in your loan agreement.
Varies by state. Based on terms of
agreement.
Fee amount may be determined by:
- Percentage of the overdue payment
of principal, interest, taxes and
insurance or of principal and interest
- Loan product type
- Flat fee amount
Mortgage insurance (MI)
waiver
Pass-through charge to complete your
valuation process, whether a Broker Price
Opinion or full appraisal.
Varies by vendor
Home equity line of credit
(HELOC) prepayment fee
Fee charged when a HELOC is paid off within
three years of loan closing. There is no fee for
non-qualified mortgages or higher priced loans.
1% of original loan amount ($500
maximum)
