Schedule of Fees
Fees are as of the contract date but are subject to adjustment at the discretion of lender and/or servicer
Lender Loan Fees:
Loan Origination Fee - 2pt
Applied when drafting the original loan. This fee includes loan underwriting, collecting and processing documents, among other administrative costs
Document Preparation Fee - $450
Covers the cost of drafting all documents to close on a house.
Note Payment Fees:
Loan Setup Fee - $75
The cost the servicer charges to set up the fee in their system.
Late Mortgage Payment Fee (applied 5 days after due date) - 5% of mortgage payment
Applied if a mortgage payment is made after the 5th of the month.
NSF Returned Money Orders/Checks (includes processor's fee) - $35
Applied when a payment is returned with insufficient funds. Our processor will attempt to make the payment twice, and the fee will be applied each time the payment is returned.
Home Site Visit - $125
Applied when a representative is sent to the property for inspection, tasks associated with delinquency or default, occupancy verification, insurance requirements, and other situations
Forbearance Fee - $750
Loan Servicing Monthly Fee - $40
Cost associated with servicing a loan each month, including but not limited to processing payments, sending statements, and payment notifications to borrowers.
Late Rent Payment Fee (applied 3 days after due date) - $55 1st day , $15 each day after
Applied when a rent payment is made after the 3rd of the month
Certified Letter Fee - $10
Applied when notification is sent via certified mail.
HOA/POA Management Fee - $25/month
When a borrower cannot maintain the HOA fee, Highpoint Servicing will take over management, charging the borrower the HOA/POA amount and the monthly service fee.
Payoff Request - $50
Applied when a borrower requests a formal payoff statement.
Repayment Agreement - $500
3% Processing Fee:
Checks/Money Orders - CashApp - Venmo
Highpoint offers several fee-free payment options, but if a borrower needs to pay with Checks/Money orders, Cash App, or Venmo, a 3% fee will be applied to the payment amount.
Collection Fees:
Recording Fee - $55
Applied when documents must be filed with the county, including but not limited to Deed In Lieu, Forbearance, and Foreclosure.
Forbearance Preparation - $750
Assessed when forbearance is drafted and charged even if the borrower does not sign the document.
Notice of Trustee (Substitute) Sale Filed - $525
Assessed when a notice of sale must be drafted and sent.
Notice to Vacate Mailed - $50
Assessed when a notice to vacate is mailed.
Eviction Hearing Attendance - $250
Applied if the eviction filing goes to court and Highpoint Servicing must send a representative.
Trustee Hourly Rate - $325
Applied when a trustee must perform a task related to the delinquency of a mortgage. Examples of these tasks are serving papers, meeting with creditors, completing paperwork, working with lawyers, drafting documents, getting documents notarized, and other tasks as needed.
Title Search - $80
Charged during a foreclosure, a title search must be done to verify whether other liens are on the property.
Deed in Lieu Preparation - $500
Applied when a Deed In Lieu is prepared, even if the Deed in Lieu of Foreclosure is not signed/returned.
Notice of Default - $150
Assessed when a notice of default must be drafted and sent.
Trustee (or Substitute Trustee) Sale Conducted - $500
Assessed when a trustee attends the foreclosure to auction the house.
Eviction Filing - $250
Applied if a previous tenant or previous borrower refuses to vacate the house after the timeframe listed in the notice to vacate is sent.
Writ of Possession Filed - $200
Applied if a tenant or borrower refuses to vacate the house after a court orders the eviction, and a writ of possession must be filed.
Trustee Assistant Hourly Rate - $175
The assistant trustee helps with tasks required by the trustee.
Legal Consultation Fees (varies based on service)
When legal counsel is needed to address lawsuits, bankruptcy, delinquency, draft new documents or other needs as they arise.